BRETT Bounces Off May Lows – Is a 75% Surge Imminent?

Memecoin BRETT just retested its May floor—now traders are eyeing a potential breakout. Could this be the launchpad for a 75% rally, or just another false dawn in the casino of crypto?

Price action suggests accumulation, but let’s be real—since when did fundamentals matter in the land of dog-themed tokens? Watch those resistance levels like a hawk (or a degenspeculating with rent money).

BRETT buyers given discount prices

Source: BRETT/USDT on TradingView

The memecoin was trading at the $0.051 support level once again, after retesting it as support in early May. BRETT, which had been on an uptrend at the start of May, saw its momentum stall NEAR the $0.09-mark. This was just above the resistance level marked in February.

The inability to flip the $0.082-level to support was the first warning of bullish weakness. In mid-May, this level was retested as support a couple more times, before the price took a downturn.

This opened up the chance of a range formation for the token. The OBV reset to its early May lows too, showing that seller pressure was appreciable. The $0.051 support offered a good buying opportunity with reduced risks and a clear invalidation. A drop below $0.045 could flip the bias bearishly.

Source: BRETT/USDT on TradingView

On the 4-hour chart, BRETT seemed to have retraced all the gains it made in the second week of May. After falling to its $0.045 low once again, the token managed to climb back above the $0.051 support level.

However, the OBV continued to trend south. This underlined dominant selling volumes over the past ten days. Additionally, the H4 chart also showed that momentum remained bearish.

When the RSI manages to climb past neutral 50, and the OBV begins to form higher highs and higher lows, a bullish trend reversal WOULD become more likely.

Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer’s opinion