Cryptocurrency analyst and trader Ali Martinez is highlighting a memecoin that is flashing a bullish signal.
Martinez tells his 67,300 followers on the social media platform X that Brett (BRETT), a memecoin built on the Ethereum (ETH) scaling solution Base, appears to be forming a bull flag on the daily chart.
According to Martinez, Brett could soar to $0.63, about 357% from the current level, if the memecoin overcomes the $0.15 resistance zone.
Brett is trading at $0.138 at time of writing.
The crypto trader and analyst also offers his insight on Solana (SOL). According to Martinez, Solana is forming a W-shaped pattern on the 12-hour chart. In technical analysis, a W-shaped pattern typically signals that a downtrend may be about to end and that the price of an asset is on the cusp of an uptrend.
Martinez further says that Solana could inch up by around 9% from the current level.
Solana is trading at $160 at time of writing.
According to the crypto analyst, Solana’s potential bullish moves could trigger billions of dollars in liquidations on bearish bets.
“$2.98 billion in short positions will be liquidated if Solana surges to $176!”
Next up is Bitcoin (BTC). Martinez says that the flagship crypto asset must revisit a price last recorded about a month ago for BTC to break above the $73,800 level, the record high.
“Bitcoin must hold above $62,500 to maintain its bullish position and break $66,250 to target new all-time highs!”
Bitcoin is trading at $64,695 at time of writing.
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Generated Image: Midjourney