Cryptocurrency analyst and trader Ali Martinez is drawing attention to a memecoin that is showing a positive signal. Martinez informs his 67,300 followers on the social media platform X that Brett, a memecoin built on the Ethereum scaling solution Base, seems to be forming a bull flag on the daily chart. If the memecoin can surpass the $0.15 resistance zone, Martinez believes that Brett could surge to $0.63, marking a 357% increase from its current level. At the time of writing, Brett is trading at $0.138.
In addition to Brett, Martinez also provides insights on Solana. He notes that Solana is forming a W-shaped pattern on the 12-hour chart, which typically indicates the end of a downtrend and the beginning of an uptrend. Martinez suggests that Solana could rise by approximately 9% from its current level. As of now, Solana is trading at $160.
Martinez emphasizes that Solana’s potential bullish movements could lead to billions of dollars in liquidations on bearish bets. He points out that “$2.98 billion in short positions will be liquidated if Solana surges to $176!”
Moving on to Bitcoin, Martinez states that for BTC to break above the record high of $73,800, it must revisit a price that was last seen about a month ago. He explains that Bitcoin needs to hold above $62,500 to maintain its bullish position and break $66,250 to target new all-time highs. Currently, Bitcoin is trading at $64,695.
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