A closely followed crypto analyst says that one altcoin that’s enjoyed massive gains over the last five months could soon witness fresh rallies.
Crypto trader Michaël van de Poppe tells his 722,700 followers on the social media platform X that memecoin Brett (BRETT) may surge after seeing a 50% correction.
BRETT, which is on the Base network, has seen staggering gains of 13,000% since February and has a $1.16 billion market cap at time of publishing.
“I’ve missed it entirely: trading on meme coins, but the volatility is massive with a ton of opportunities. BRETT has seen a 50% correction, but could be showing some signs of relief with strong support. A break of $0.1350 and another leg is possible for this one.”
On February 29th, BRETT recorded its all-time low of $0.0008475. At time of writing, the memecoin is trading for $0.11.
Moving on to Ethereum, Van de Poppe says he’s bullish on the top altcoin in anticipation of the possible approval of spot market Ethereum (ETH) exchange-traded funds (ETF).
“The Ethereum ETF is set to launch next week! After attending ETHCC (community conference), it’s clear that the impact of Ethereum is hugely underestimated on social media. With BlackRock’s tokenization fund hitting $500 million on ETH, interest is skyrocketing. I’m happy to be long on ETH!”
Earlier this week, the trader noted that Ethereum has looked stronger than Bitcoin (BTC) in the last nine weeks.
“[ETH is] up 20% against Bitcoin and shifting its trend. It’s a matter of time until the entire ecosystem starts to pick up pace.”
ETH is trading for $3,138 at time of writing.
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The post Analyst Says ‘Another Leg’ up Possible for Altcoin That’s Exploded 13,000%+ in Five Months – But There’s a Catch appeared first on The Daily Hodl.