Cryptocurrency analyst and trader Ali Martinez is expressing bullish sentiment on an altcoin built on the Ethereum (ETH) scaling solution Base.
Martinez tells his 55,200 followers on the social media platform X that the memecoin Brett (BRETT) could appreciate by around 57% from the current level.
The analyst, however, warns that a correction of around 25% from the current level could occur first.
“The memecoin craze might seem to be cooling off, but I believe it’s just warming up. BRETT on Base is one of those that is gearing up for an epic sprint!
Before soaring, BRETT might dip to the $0.038 support, setting the stage for a bullish breakout to $0.080!”
Based on the analyst’s chart, it appears that the memecoin is forming an ascending triangle pattern in the one-hour time frame. An ascending triangle pattern is considered bullish once the price breaks out of the upper resistance level.
BRETT is trading at $0.0509 at time of writing, up by around 5,865% from the February 29 low of $0.000847.
Turning to Bitcoin (BTC), Martinez says that the flagship crypto asset could go up by around 9% from the current level if a key support and psychological level holds.
“Bitcoin appears to be breaking out of a bull flag on the 4-hour chart! If BTC holds above $70,000, we could see a surge of nearly 10% to a new all-time high of $77,000!”
Bitcoin is trading at $70,612 at time of writing.
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