BRISE up 21% in 48 hours - could this be a recovery signal?
According to the data, BRISE has risen by 21.44% compared with last week's trading day, becoming the largest increase among the top 200 cryptocurrencies in the market, followed by Pepecoin, the diamond of the emoji season. The token has been on a bearish streak for quite some time, and this uptick has reinvigorated token holders.
BRISE opened at the $0.0000003534 price zone and declined steadily over the next few days before finding support around the market price of $0.0000002759 on May 12. Since then, BRISE began to show signs of consolidation, reaching the highest point of 0.00000049, and finally back-tested the trading price to $0.000000383 on the morning of 5.14.
Although BRISE has slipped from such price highs, the decline has not been large, and BRISE seems to be gathering momentum for another price breakout.
Interestingly, shortly after the BRC-20 token surge, Bitgert’s development team announced the burning of 500 billion BRISE tokens, which led to more interest in the asset, as token burns are usually associated with price increases. As shown in Figure 2.
Following BRISE's impressive price action, there has been speculation about the token's ability to stage a full-blown market rally. According to the price prediction team, the current public sentiment around BRISE is neutral with a fear and greed index of 48. That said, the team predicts that the value of BRISE will plummet by 12.31% in the next five days, falling to the price zone of 0.0000003139.
However, they soon expect a reversal and the BRC-20 token is expected to resume its bullish course, trading as high as $0.0000004276 within the next 30 days.
(Data source: Semilore Faleti)