A prominent cryptocurrency analyst says an altcoin that has enjoyed a massive rally over the past five months could soon see a new uptrend.
Cryptocurrency trader Michael van de Poppe told his 722,700 followers on social media platform X that the Mimecoin Brett (BRETT) could surge after a 50% drop.
BRETT on the Base network has gained a whopping 13,000% since February, and has a market cap of $1.16 billion at the time of publication.
“I totally missed it. I trade meme coins but they are volatile with huge opportunities. BRETT has seen a 50% correction but could show some relief with strong support. A break of $0.1350 and another leg down is possible with this.”
On February 29, BRETT hit an all-time low of $0.0008475. At the time of writing, memecoin is trading at $0.11.
On Ethereum, Van de Poppe said he would be bullish on the top altcoin as he anticipated the possibility of a spot market Ethereum (ETH) exchange-traded fund (ETF) approval.
“Ethereum ETF launches next week! After attending the ETHCC (Community Conference), it became clear to me that Ethereum is vastly underrated on social media. Interest is skyrocketing as BlackRock’s tokenization fund hits $500M in ETH. Excited to be long ETH!”
Earlier this week, one trader noted that Ethereum has outperformed Bitcoin (BTC) over the past nine weeks.
“(ETH) is up 20% against Bitcoin and the trend is changing. It’s just a matter of time before the entire ecosystem starts picking up speed.”
As of this writing, ETH is trading at $3,138.
Don’t miss out – subscribe to receive email notifications straight to your inbox
Price check task
Follow us XFacebook and Telegram
Surfing the Daily Hodl Mix
 
Disclaimer: The opinions expressed on The Daily Hodl are not investment advice. Investors should do their own due diligence before making any high-risk investment in Bitcoin, cryptocurrencies or digital assets. Your transfers and transactions are your responsibility and any losses you may incur are your responsibility. The Daily Hodl does not recommend buying or selling cryptocurrencies or digital assets and The Daily Hodl is not an investment advisor. The Daily Hodl participates in affiliate marketing.
Generated image: Midjourney