BRETT price is up 17% in the past 24 hours, tracking to retest the local peak of the recent breakout rally

Brett (BRETT) price has been in a steep downtrend since reaching its all-time high of $0.235

Brett (BRETT) price has been in a steep downtrend since reaching its all-time high of $0.235 on Dec. 1 last year, but that trend began to shift around Mar. 11, when the price entered consolidation between $0.026 – $0.036, with a few outliers.

On April 22, the memecoin’s price broke out of this range with a strong move accompanied by a spike in volume, closing above $0.044. The breakout rally extended until April 26, reaching a local peak of $0.07. That breakout candle pushed the price above both the 50-day SMA and the 20-day EMA and marked the bullish crossover of the 20-day EMA above 50-day SMA.

A pullback followed the rally, but with today’s swing high, the price appears to be tracking toward a retest of the $0.07 peak and potentially print a higher high.

If $0.07 retest is cleared, the next major resistance lies around $0.15 — a level where the price was rejected in early January and which also served as a key horizontal support area back in November prior to the December rally.

The key catalyst behind today’s 17% surge in BRETT price and what could drive it toward $0.15 and beyond is the recent launch BRETT perps on Coinbase International Exchange and Coinbase Advanced.

The bullish outlook would be invalidated if BRETT price breaks below the local support at around $.0.05.