Bitgert price (Bitgert-USD) has been trading sideways since we last covered the coin. The price has gained 10% since last week and retesting a key resistance. Our BRISE price analysis shows that the price can generate 50% gains in the near term if it reclaims a key level.
As Bitcoin price is gaining strength above $24,000, Bitgert price is still trading sideways. The moment of truth is here for the bulls as the BRISE-USD chart is retesting the 200-day moving average. If the price doesn’t break above the $0.000000500 level soon then I expect a sharp correction.
The recently announced token-burning mechanism is putting positive buy pressure on the BRISE coin price. As per the BRISE news today, the iOS version of its exchange has just got approval from Apple. According to the team, the Testflight is live and it will be rolled out on the mainnet by this weekend.
As per another announcement, the 2nd BRISE burn (BRISE-USD) is expected to occur on 28th February. This is expected to be the largest token burn by the project as it would burn Bitgert tokens of $4.5-$5 million.
Although BRISE has rallied more than 62% since the start of 2023, it still needs to claim a key level. The $0.000000500 level has become a very strong resistance as the price failed to break it despite multiple attempts. For the past few weeks, the price has been trading sideways without any breakout.
The following chart shows the key level to watch in the coming days. The 200-day moving average is shown in red and currently lies at $0.000000494.
However, an upward or downward breakdown is almost imminent this week as the battle intensifies. The presence of a 200-day moving average at a key resistance has further strengthened it. Another reason behind this boring price action is the sideways movement by Bitcoin. In case of an upward breakout, Bitgert price prediction of $0.000000750 can become a reality.
This post was last modified on Feb 20, 2023, 12:32 GMT 12:32