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Bitgert (BRISE) Price May Breakout Towards the Upside Soon

Published by
Sara K

The gas fee-free blockchain project Bitgert (BRISE) was one of the many cryptocurrencies. Its price drop heading into the new week. According to CoinMarketCap BRISE’s price slipped by 1.91% over the past day of trading. Despite the negative daily performance, a bullish chart pattern had formed on altcoin’s daily chart.

Meanwhile, Bitgert was changing hands at $0.0000001873. A value that leaned slightly closer to its daily low of $0.0000001846 compared to its 24-hour peak of $0.0000001927. Concurrently, the cryptocurrency saw its 24-hour trading volume decline by over 10%. Resulting in an estimated volume of $3.77 million at press time.

Looking at Bitgert’s price performance over the course of the past week, the cryptocurrency displayed a rather bleak outlook as it recorded a decrease of more than 7%. Meanwhile, its market cap of $74,092,850 meant that Bitgert held the 269th position among the largest cryptocurrencies based on market capitalization. 

From a technical standpoint, a bullish falling wedge chart pattern had formed on Bitgert’s daily chart. If this pattern is validated in the incoming week, then the altcoin’s price may enter into a strong move towards the upside. This potential move may lead to Bitgert’s price flipping the $0.0000002380 resistance level into support. 

Continued buy support may even elevate Bitgert’s price to $0.0000002770 before the end of this month. However, if Bitgert’s price continues to drop throughout the coming week, then it may retest the crucial support level at $0.0000001815. A break below this mark could lead to it establishing a new all-time low.

EMA Analysis and Momentum

Investors and traders will want to take note of the fac. Bitgert’s short and medium-term momentum favoured sellers at press time. This was evident because the 9-day EMA line was positioned below the 20-day EMA line on Bitgert’s chart. Moreover, both of these technical indicators were positioned below the 50-day EMA line as well.

A potential early indication of Bitgert’s negative trend shifting to positive will be when the altcoin closes a daily candle above the 9-day EMA line at around $0.0000001937. In this scenario, Bitgert’s price may attempt to do the same with the 20-day EMA line at $0.000000203. Before attempting to challenge the $0.0000002380 resistance level.

Sara K

Sara is steadily working on cryptocurrency evaluations, news, and fluctuations in digital currency prices. She is guest author associated with many cryptocurrencies admin and contributes as an active guide to readers about recent updates on virtual currencies.

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