Brett price continued its uptrend this week as a sense of greed remained in the crypto industry. The token soared to a record high of $0.1287 on June 2nd, giving it a market cap of over $1.2 billion. It has been one of the best-performing tokens this year, increasing by over 450% from its lowest level in May.
Crypto fear and greed index is rising
Brett and other digital coins have jumped sharply in the past few weeks. Bitcoin has moved from last month’s low of $56,450 to over $71,000 today. Similarly, the price of Ethereum has jumped from $2,816 on May 1st to almost $3,900 today.
This trend has led to more greed in the crypto market. The closely watched fear and greed index has soared to above 66 from last month’s low of 49. In contrast, the original fear and greed index created by CNN Money has moved to the neutral point of 46
Cryptocurrencies do well when there is a sense of greed in the market. The ongoing surge among meme coins evidences this. In addition to Brett, other meme tokens like Pepe, Apu Apustaja, and Floki have all jumped to their highest level this year.
Brett has also soared because of its role as the biggest meme coin in the Base Blockchain ecosystem, where it has become the biggest token. As a result, it could replicate the success of other original meme coins like Bonk (Solana) and Shiba Inu (Ethereum).
Just recently, Brett was added to the Seamless Protocol, a leading lending platform on the Brett Blockchain. It was also added on KuCoin, one of the biggest crypto exchanges in the industry. This happened a few days after it was listed on BingX, which offered a $100 welcome reward. Brett was also listed in Deepcoin and Bitget. As a result, the number of Brett holders has jumped to over 303k.
Brett price forecast
Turning to the 4H chart, we see that the $BRETT token price has been in a strong bull run in the past few weeks. It has jumped from $0.022 in May to a record high of $0.1287. The token has remained above the 50-period and 25-period Exponential Moving Averages (EMA), which is a bullish sign.
However, it has formed what looks like a double-top pattern, which is a popular sign of a bearish reversal. Therefore, bulls must invalidate the double-top pattern by pushing the token above $0.1287 to continue the bullish trend. If this fails to happen, the token could suffer a harsh reversal and retest the double top’s neckline at $0.070.
