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Home Price Analysis

BRISE suggests a recovery from a short-term bearish slump

Gary Flanders by Gary Flanders
2 years ago
BRISE suggests a recovery from a short-term bearish slump

Bitgert’s native token, BRISE, has recently experienced a dip in value, currently trading in the red zone at $0.0000002852. This marks an 11.89% decrease in value over the past seven days, following a promising start to the week in the green region. Despite this setback, trade analysts have noted that Bitgert’s emphasis on user rewards and tokenomics suggests a potential for long-term recovery, not only for BRISE but also for other meme coins in the market.

BRISE chart (Source: CoinMarketCap )
BRISE chart (Source: CoinMarketCap )

The BRISE/USD 1-day chart indicates bearish signals as the candlesticks trade in the lower half of the Bollinger Bands. Additionally, the MACD line is below the signal line, confirming the bearish trend. However, there is a glimmer of hope as the Bollinger Bands and MACD line suggest a potential recovery point on the horizon. Notably, the upper band of the Bollinger Band remains stable while the lower band continues to move downward, indicating a possible surge in market volatility.

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BRISE/USDT 1-Day Chart (Source: TradingView)
BRISE/USDT 1-Day Chart (Source: TradingView)

Upon analyzing past trends, it has been noted that a reversal tendency occurs when the bands expand. As such, BRISE may ascend to the upper half of the Bollinger Bands, widely regarded as a bullish indication.

As we observe the current market conditions, the distance between the MACD and signal lines is quite narrow, suggesting that a potential trend reversal could be on the horizon. Additionally, the bullish signal emitted by the MACD line is only expected to last briefly, providing further evidence that BRISE may soon experience a surge in bullish activity.

BRISE/USDT 1-Day Chart (Source: TradingView )
BRISE/USDT 1-Day Chart (Source: TradingView )

The RSI stands at 26.15, signaling that BRISE has entered the oversold territory. Despite being below the SMA, the RSI is trending upwards, providing further evidence that BRISE may soon bounce back from its overbought state. Should the RSI surpass the SMA, BRISE will likely maintain its strong trend between 70 and 50.

Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.

Tags: BITGERT (BRISE)
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Gary Flanders

Gary Flanders

Passionate writer who is keenly exploring crypto and Blockchain loves to know about new things and explore what is happening in the world. Cherishes writing, primarily about cryptocurrency and Blockchain.

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