Altcoins
Analyst says ‘further breakthrough’ is possible for altcoin that’s exploded more than 13,000% in five months – but there’s a catch
A widely followed crypto analyst says an altcoin that has seen massive gains over the past five months could soon see further rallies.
Crypto trader Michaël van de Poppe tell his 722,700 followers on social media platform X who use the memecoin Brett (BRETT) could increase after experiencing a 50% correction.
BRETT, part of the Base Network, has seen a staggering 13,000% gain since February and has a market cap of $1.16 billion at the time of publication.
“I totally missed this: meme coin trading, but the volatility is huge with a ton of opportunities. BRETT has seen a 50% correction, but could show some signs of relief with strong support. A break of $0.1350 and another leg up is possible for this one.”
Source: Michael van de Poppe/X
On February 29, BRETT recorded its all-time low at $0.0008475. At the time of writing, the memecoin is trading at $0.11.
Let’s move on to Ethereum, Van de Poppe said He is bullish on the leading altcoin ahead of possible approval of the Ethereum spot market (ETH) exchange-traded funds (ETFs).
“Ethereum ETF set to launch next week! After attending ETHCC (community conference), it’s clear that Ethereum’s impact is vastly underestimated on social media. With BlackRock’s tokenization fund hitting $500 million on ETH, interest is skyrocketing. Happy to be long ETH!”
Earlier this week, the trader note that Ethereum seems stronger than Bitcoin (Bitcoin) over the past nine weeks.
“[ETH is] Bitcoin is up 20% against bitcoin and has reversed course. It’s only a matter of time before the entire ecosystem starts picking up speed again.
ETH is trading at $3,138 at the time of writing.
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