Brett, a new memecoin built on the BASE layer 2 blockchain, has captured the crypto community’s attention. Despite this bold objective, Brett has faced a 30% drop in value from its all-time high of $0.195550. However, recent developments and expert analyses suggest that Brett’s journey is far from over.
Renowned crypto analyst Crypto Rover recently shared his insights on Brett in an X post. The analyst highlighted that despite Brett’s recent price decline, it remains significantly undervalued and presents a strong investment opportunity.
Rover’s analysis suggests that the memecoin is poised for a substantial increase in value, predicting that it could reach $1 in the current market cycle. This forecast has ignited renewed interest among investors and traders eager to capitalize on the potential upside.
Despite an overall downtrend observed on the daily chart, the coin’s price remains robust above the critical 50-day Exponential Moving Average (EMA). This support level is essential in sustaining the upward momentum, as it often acts as a strong foundation, preventing further declines and fostering price stability.
Further bolstering Brett’s bullish outlook is forming a morning star pattern at the dynamic support level. Often seen as a bullish reversal signal, this pattern increases the likelihood of an uptrend continuation. Additionally, the Relative Strength Index (RSI) is positioned around 53, suggesting that bulls are gaining control and would likely push the price higher.
According to Fibonacci retracement levels, a breakout rally could see Brett’s price reach the 50% Fibonacci level at $0.18, with the next target set at $0.26. This scenario presents an 80% upside potential, making Brett one of the most promising meme coins to buy this week.
As Brett continues to attract attention and investment, its quest to rival PEPE and achieve new price milestones remains a key focus for crypto enthusiasts. The coming weeks would be critical in determining whether Brett could fulfil its potential and deliver on the optimistic forecasts.
