The BRISE price has continued its bearish trend in the past few days as demand continued dropping. Bitgert dropped to $0.0000056, close to its lowest level on Sunday. It has crashed by more than 43% below its highest level on May 27th this year. At the same time, the volume of the coin has been in the past few days.
Bitgert is a relatively small blockchain project that seeks to become a leading player in the smart contract industry. It is a proof-of-stake platform that aims to provide more competition to platforms like Cardano, Avalanche, and Polygon. Its main features are fast speeds, which helps it process over 100k transactions per second (tps).
Its applications have lower transaction costs and are highly scalable. In terms of cost, the network can handle 100 million transactions with just $1 worth of BRISE. Bitgert also has a crypto wallet, a gateway to decentralized blockchain apps.
Still, Bitgert is a small platform that is struggling to gain enough developers. The main challenge is that there are now similar platforms like Cardano, Avalanche, and Cronos that have scale in the industry. For example, a quick look at Bitgert’s ecosystem shows that it is relatively small, with the only listed apps being Knit Finance, Midas NFT marketplace, and Sphynx Labs.
BRISE price prediction
Turning to the hourly chart, we see that the Bitgert price formed a triangle pattern that is shown in black recently. In price action analysis, this price action is usually neutral, meaning that it leads to a breakout in either direction. However, a closer look shows that the coin made a strong bearish breakout below the lower side of the triangle pattern.
BRISE price has moved below the 25-period and 50-period moving averages, while the MACD has moved below the neutral point. Therefore, the Bitgert price will likely continue falling as bears target the next key support level at $0.00000052, which was the lowest level this week. A move above the 25-period MA will invalidate the bearish view.