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After four consecutive strong bearish moves, the Brise price is up by 4 per cent in today’s trading session. The bullish push comes just before the price hits the 3.1e-7 support level.
Brise has started the month of July on a strong bearish trend and is already down by four per cent. However, looking at the previous months, there is a high likelihood that the current trend is a continuation of a long trend.
In June, Brise lost 49 per cent of its value. The loss resulted from a strong bearish trend in the cryptocurrency industry. Unfortunately for Brise, which happened to be among the altcoins most affected by the drop, it meant shedding half its value in just a few weeks.
However, even with the prices of June dropping due to factors that were far beyond its control, Brise’s performance in May was also poor. As a result, the crypto lost 29 per cent of its value by the end of the month. However, unlike in June, where prices did not show a significant recovery during the month, May had a huge price surge in the second half of the month, which saw the losses move from a loss of 61 per cent in a month to the closing value of 29 per cent.
Brise may be up by 4 per cent today, but the trend is still aggressively bullish. However, looking at the past four days, when prices dropped by 20 per cent, it looks clear that the current bull trend is a bearish flag, and the long-term bear market is likely to continue.
Therefore, my Brise price prediction expects the prices to continue dropping until the 3.177e-7 support level. There is also a high likelihood that we will see prices trading below the support level above. However, if the prices trade above the $4.0e-7 price level, then my analysis will be invalidated. It will also mean a possible upside move.
This post was last modified on Jul 04, 2022, 14:48 BST 14:48