- Bitgert price has managed to rally over 30% at its highs in the past week.
- However, BRISE price has been on a declining trend all through the year and continues to be very volatile.
Bitgert is essentially a blockchain based crypto engineering organisation that runs on the Binance Smart Chain (BSC) blockchain network. It runs with the objective to deliver solutions for blockchain based audits and products globally. To that end, the organisation has also created what is known as the BRISE Chain – with added features ranging from zero gas fees and high transaction speeds of up to 100,000 transactions per second!
To further add to its functionality, the BRISE Chain, according to Bitgert – works on a proof-of-authority (PoA) architecture to be able to provide quick block times and cheap fees. The BRISE Chain is capable of supporting smart contracts and is also compatible with the Ethereum Virtual Machine (EVM).
Very recently, it announced that it is working on a Android and iOS version of mobile application to enable users to access their platform.
1) Android & iOS version updates:
Our team is now working on the Android and iOS version and will be live soon
Stay tuned for more updates.
— Bitgert – $BRISE (@bitgertbrise) December 6, 2022
BRISE TECHNICAL OVERVIEW
From a technical standpoint, BRISE price has been on a strong downtrend all through the year. It did see some sporadic spikes here and there, the biggest being back in the month of August 2022 – when BRISE price rallied over 250% in a matter of two weeks. But since then, the token price has been falling steadily and there is little to no bullishness left in the coin anymore. From the looks of it, the chances of a recovery in this token will purely be fuelled by some major news regarding the project.
Other than the price, even trading volumes for the token have been painstakingly low. Other than the days when there have been some spikes in price, overall trading volumes have been pretty dismal and even the Relative Strength Index for the coin has been below 50 for most part of the second half of 2022. BRISE price is also stuck within a descending triangle pattern, which happens to be a strongly bearish price pattern and even the recent 30% rally wasn’t enough to break out of that.
Read more: Bitgert Price Prediction
BRISE WEIGHTED SENTIMENT IN THE NEGATIVE ZONE
According to Santiment, the weighted social sentiment metric is one which combined all the positive and negative commentary in a particular timeframe and multiplies it by the amount of social volumes. Historically, this metric has indicated market tops and bottoms quite accurately – whenever this metric goes very high, prices tend to top out while at the same time when this metric goes low, the price of the asset typically bottoms out.
So in this case, BRISE token‘s weighted sentiment is at the lowest point of the entire year – hence while the commentary might not be great for the token right now – historically low values of this metric indicate market bottoms and hence there is a possibility that BRISE price could stabilize going forward.
BRISE DAILY ACTIVE ADDRESSES AT THE LOWEST POINT OF THE YEAR!
However, on the other hand – this is a metric that portrays a very concerning picture for the BRISE price. The network’s active addresses count is at one of the lowest points of the year, and has been in a continued downtrend for the entire duration of 2022. There were occasional spikes here and there but the overall trend is unmistakable. A dip in active addresses in but natural in a bear market scenario but in the case of BRISE, the drop has been a major one and recovering from these lows is going to be a task.
Now concluding from the observation made above – indications suggest that things are looking strongly bearish for the BRISE token. Technical analysis of the token along with the active addresses count indicates that there is very little activity happening both on the on-chain as well as technical front – ranging from poor trading volumes to a downtrend in daily active addresses count. However with the weighted sentiment for the BRISE token, which is also on the poorer side, it does seem to indicate that some bottoming out may happen.
Prices as on 8 December, 2022.
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