With volume down 35% and price action rejecting the $0.75 resistance zone, OP looks vulnerable to further downside pressure. Bears might target the $0.65 support level next, so caution is advised for traders eyeing a potential bounce play.
Brett [BRETT] – NFT platform token slips from weekly highs
Brett [BRETT] rounded out the weekly losers, shedding 14.50% as traders locked in profits after a failed breakout attempt past $0.45.
The week started strong for BRETT, with bulls pushing price action up to $0.48 in search of fresh liquidity. However, sellers stepped in, capping the rally and triggering a pullback to $0.41.
Although the RSI shows room for recovery, price action is struggling to break back above the $0.45 resistance level.
Volume is down 29% at press time, indicating a lack of strong conviction from buyers. With price action hovering near the $0.40 support zone, BRETT could be in for further downside pressure unless bulls step in to defend key levels.
Other notable losers
In the altcoin space, several tokens saw significant losses.
Mintcoin [MINT] dropped -23.4% for the week, while Evergrow [EG] and Moonshot [SHOT] both saw declines of -17.8% and -15.2% respectively.
Overall, the market remains volatile, with both winners and losers making significant moves. Traders and investors should tread carefully, keeping a close eye on key levels and market sentiment to navigate the ever-changing landscape of the crypto market.
The cryptocurrency market continues to experience volatility, with Brett [BRETT] showcasing a base memecoin that staged a bullish rebound. Despite slipping 11.35% this week and landing third on the loser board, Brett managed to reclaim the $0.09 level and even reached a four-month high before facing a sell-off from short-term holders. The token lost momentum quickly and failed to capitalize on Bitcoin’s fluctuation, losing retail flows to WIF’s breakout.
However, Brett’s volatility playbook is far from over. The token recently staged a sharp 13.01% intraday reversal, indicating a potential trend shift. With volume on the rise, rotational capital may return to the market. If buyers defend the current bounce zone, Brett could be gearing up for a chart flip.
In the broader market, other notable losers include Housecoin [HOUSE], which experienced a steep -58% retracement, as well as Revox [REX] and Doodles [DOOD], sliding -50% and -34.2%, respectively.
Crypto volatility continues to provide a rollercoaster ride for traders, with sharp winners and painful pullbacks. It is essential for traders to conduct their own research before diving into the market, stay informed, trade wisely, and navigate the waves of volatility with caution.
As the market continues to fluctuate, it is crucial for investors to stay vigilant and adapt to the changing landscape of cryptocurrencies. Stay informed, stay sharp, and trade smart to navigate the ever-evolving world of digital assets.