BRISE at Risk as H&S Forms

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Bit­gert price has formed a head and shoul­ders pat­tern as cryp­tocur­ren­cies recoiled. BRISE dropped to a low of $0.0000052 on Sep­tem­ber 16. This price was the low­est point in more than a month and was about 62% below the high­est lev­el in August. It has a mar­ket cap of over $234 mil­lion, accord­ing to data com­piled by CoinMarketCap.

Bit­gert is a rel­a­tive­ly small but fast-grow­ing blockchain project that aims to become the biggest blockchain oper­at­ing sys­tem in the world. It is an Ethereum com­peti­tor that enables devel­op­ers to build fast appli­ca­tions. It has extreme­ly low gas fees, mean­ing that it charges cus­tomers less than $1 to process mil­lions of trans­ac­tions. Bit­gert also has extreme­ly fast speeds. 

Bit­gert price has been in a strong bear­ish trend in the past few days as cryp­tocur­ren­cies recoil after Ethereum Merge. It also declined because of the ris­ing inter­est rates in the Unit­ed States. Ana­lysts expect that the Fed will hike inter­est rates by 0.75% and hint about more hikes lat­er this year.

BRISE price has also dropped because of the falling total val­ue locked (TVL) of its ecosys­tem. Its TVL has dropped to about $6 mil­lion, which is much low­er than the all-time high of $10 mil­lion. Sph­ynx TVL has dropped by more than 26% in the past 30 days while Brise Swap has dropped in the past 30 days.

Bitgert price prediction

The four-hour chart shows that the BRISE price has been in a strong bear­ish trend in the past few weeks. Along the way, the coin has moved below the 25-day and 50-day mov­ing aver­ages. At the same time, it has formed a head and shoul­ders (H&S) pat­tern, which is usu­al­ly a bear­ish sign. The neck­line of this pat­tern is at $0.00000055. 

There­fore, the coin will like­ly con­tin­ue falling as sell­ers tar­get the next key sup­port lev­el at $0.00000040. A move above the key resis­tance lev­el at $0.00000065 will inval­i­date the bear­ish view.

Bitgert Price

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