Detailed Technical Analysis: Brett (Based) (BRETT)

1. Trend Analysis (Price Action & Structure)

• Medium-Term Trend (last 90 days):
  • Since late April, BRETT peaked several times above $0.09 (notably 2025-05-10), but has since faced a pronounced correction, bottoming near $0.0357 on 2025-06-22 and again forming a double-bottom at $0.0389 on 2025-06-26 before recovering.
  • Strong bounce since late June, with higher lows and higher highs leading up to the current price of $0.0560. Indicates a transition from downtrend to potential uptrend.
  • Most recent leg higher: from ~$0.042 on July 1 to ~$0.066 on July 22, now in short-term consolidation/correction phase.

2. Support and Resistance Zones

• Support:
  • $0.052–$0.054: Previous breakout level (2025-07-10, 2025-07-12), recent intra-day lows (2025-07-24).
  • $0.046–$0.048: Former resistance/failed bounce zone in late June, now flipped support.
• Resistance:
  • $0.058–$0.060: Where multiple hourly highs have failed this week (2025-07-24 high $0.0587), with sellers entering above $0.058.
  • $0.066: 2025-07-22 swing high and previously lost demand zone from mid-June.

3. Volume Analysis

• Significant spikes in volume during upswings (notably 2025-07-10/11 and 2025-07-15/16). On July 24, volume is moderately high, especially in the $0.056–$0.058 range, suggesting healthy interest but also more active profit-taking/resistance.
• The recent move from sub $0.05 to $0.066 has diminishing volume on each attempt higher, hinting at waning momentum.

4. Candlestick Patterns (Recent Hourly and Daily Structure)

• Sharp upper wicks on recent bars near $0.058–$0.059 signal strong overhead supply.
• Multiple pin-bar/hammer-like candles off the $0.054–$0.055 area, indicating buyers step in when prices retreat to this zone.
• The last 24h show an overall consolidation, forming an ascending triangle on the hourly chart (rising lows into the $0.058 resistance band).

5. Moving Averages (MA)

• Short-Term (EMA20/EMA50): Likely converging just below current price (~$0.054–$0.055). Recent candles oscillate around these MAs, designating a near-term equilibrium.
• Medium-Term (EMA100/200): Given the longer-term downtrend into June and brisk recovery since, the EMA100 should be catching up below $0.050, with EMA200 slightly below this. The price holding above both suggests a shift to bullish intermediate momentum.

6. Momentum Oscillators

• RSI (Relative Strength Index, 14-Period): Inferred to be near 60 on today’s price action—strong but not yet overbought. RSI in recent surges (July 22) likely spiked near 70 before cooling, now stabilizing.
• MACD: Positively diverging above the zero line (based on swing structure and MA cross). There is a potential for a bearish cross if price fails to break $0.058–$0.060 soon.

7. Bollinger Bands & Volatility

• Bollinger Bands squeezed last week and expanded following the July 15-22 breakout. Currently, the bands are widening with price occupying the upper half, but a few attempts at the upper band ($0.058+) have been rejected.
• Volatility remains elevated but with clear boundaries: support at $0.052, resistance at $0.058–$0.060.

8. Fibonacci Retracement (from $0.091 peak to $0.0357 bottom)

• 38.2% retracement: ~$0.055
• 50% retracement: ~$0.063
• 61.8% retracement: ~$0.071
• The recent rally struggled at the 50% fib ($0.063–$0.066) and now consolidates at the 38.2% level ($0.055). Holding this level is bullish for the next upside attempt.

9. Pattern Analysis

• Ascending Triangle (short-term): Formed with flat resistance at $0.058 (highs of July 24) and rising lows from $0.054 hourly. This is often a bullish continuation pattern.
• Double Bottom (June 22 and June 26): Successful retest and sharp recovery confirm strong base.

10. Order Book and Sentiment (Inferred from Price Responses to Key Levels)

• Aggressive selling near $0.058–$0.060: Sellers actively offload positions here; weak hands likely to take profit.
• Lack of sharp follow-through on deep pullbacks signals accumulation in the $0.054–$0.055 band, likely by stronger hands.

11. Historical Volatility Analysis

• The coin is known for swifter, deeper pullbacks but also fast reversals (high beta). These V-shaped reversals are often triggered by hitting prior daily low clusters or strong MA support.

12. Probabilistic 24-Hour Outlook

• Bullish Scenario: If $0.055 holds on dips, expect renewed test and eventual break above $0.0587. If so, next targets: $0.060/$0.063 (prior resistance/fib midpoint).
• Bearish Risk: If $0.054 gives way, next support is $0.052, and then a deeper flush to $0.048 possible, but probability is lower given recent trend strength.
• Most Probable Move: Brief dip to $0.055–$0.0555 (liquidity flush), followed by a squeeze to $0.059–$0.060.

13. Strategy Synthesis and Execution Plan

• Bias: Buy on dips into support, targeting an upside break.
• Risk Management: Stop below $0.052 (high volume node/support). Target breakout above $0.058 toward $0.060/$0.063.
• Confidence Level: Moderately High (based on multi-timeframe confluence, bullish triangle, and strong higher lows).

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Final Summary:

• The Brett (Based) market is in mid-recovery mode after pronounced bottoming in late June. The recent consolidation forms a bullish platform, best exploited by entering long positions on minor pullbacks. Looking for a retest of $0.059–$0.060 in the coming 24 hours, with a pullback to $0.0550–$0.0555 as the optimal entry zone.

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Decision: BUY (Long Position) on pullback to $0.05525, Target $0.06000.