Ethereum

Bitcoin

Base

when

Spot

Brett crypto token formed a “God candle” as sentiment in the crypto industry improved following Binance’s announcement of its futures listing. 
Brett (<a href="https://crypto.news/price/brett/" target="_blank" rel="noreferrer noopener">BRETT</a>), the largest meme coin on the Base Blockchain, was among the top-performing assets in the crypto market. 
This surge was primarily driven by Bitcoin (<a href="https://crypto.news/price/bitcoin/" target="_blank" rel="noreferrer noopener">BTC</a>) crossing the significant resistance point at $60,000, reaching its <a href="https://crypto.news/bitcoin-reaches-61k-old-coins-enter-chain/" target="_blank" rel="noreferrer noopener">highest point since Aug. 14</a>. As a result, most altcoins and meme coins like Dogwifhat (<a href="https://crypto.news/price/dogwifhat/" target="_blank" rel="noreferrer noopener">WIF</a>) and Floki (<a href="https://crypto.news/price/floki/" target="_blank" rel="noreferrer noopener">FLOKI</a>) rose by over 10% while the total valuation of all coins rose to $2.13 trillion. 
 You might also like: <a href="https://crypto.news/dogwifhats-monthly-stats-look-bearish-open-interest-cut-in-half/"> Dogwifhat’s monthly stats look bearish, open interest cut in half </a> 
Brett’s strong performance was also fueled by Binance’s announcement, the world’s largest crypto exchange, that it will list the BRETTUSDT futures on Aug. 20. This listing will allow users to trade the token with a maximum leverage <a href="https://www.binance.com/zh-CN/support/announcement/%E5%B8%81%E5%AE%89%E5%90%88%E7%BA%A6%E5%B0%86%E4%B8%8A%E7%BA%BFbrett-1-50%E5%80%8D-usdt%E6%B0%B8%E7%BB%AD%E5%90%88%E7%BA%A6-679489378226489d8247e4bd3cd5352a" target="_blank" rel="">up to 50 times</a>. Cryptocurrencies often experience price increases when added to major exchanges like Binance. 
The BRETT token further rallied after Base announced the upcoming launch of Basenames, a feature similar to Ethereum Name Service. Basenames will enable users to create easy-to-use domains for on-chain activities, a significant development for Brett given its large market share within the Base ecosystem. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 Basenames, the fastest way to start building on Base, are coming soon Claim a unique base.eth username to make it easier to connect, collaborate, and contribute onchain We can’t wait to see how you’ll build your onchain identity <a href="https://t.co/7sMSZ7kYF0" target="_blank" rel="">pic.twitter.com/7sMSZ7kYF0</a>— Base (@base) <a href="https://twitter.com/base/status/1825619708093362321?ref_src=twsrc%5Etfw" target="_blank" rel="">August 19, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
The token’s rally occurred in a high-volume environment, with 24-hour trading volume rising to $115 million, and futures open interest climbing to $33.5 million, its highest level since Aug. 2. 
<h2 class="wp-block-heading" id="brett-price-rallied-after-dragonfly-doji-formation">Brett price rallied after dragonfly doji formation</h2> 
<figure class="wp-block-image size-full">
 <picture loading="lazy" decoding="async" class="wp-image-14292707"> 
 <source type="image/webp" srcset="https://crypto.news/app/uploads/2024/08/Brett-Price.png.webp"> 
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/08/Brett-Price.png" alt="Brett crypto price"> 
 </picture> 
 <figcaption class="wp-element-caption">
 Brett price chart | Source: <a href="https://www.tradingview.com/symbols/BRETTUSDT/?exchange=BYBIT" target="_blank" rel="">TradingView</a>
 </figcaption>
</figure> 
Brett formed a “God candle”—a large and sudden bullish candle—after establishing two notable chart patterns: a falling wedge and a dragonfly doji. 
The token had been forming a falling wedge pattern on the daily chart. This is a pattern that often signals a potential bullish breakout. Additionally, Brett’s rally followed the appearance of a small dragonfly doji candlestick. In this case, it is characterized by a small body and a long lower shadow, which is a recognized bullish reversal pattern. 
However, it’s still uncertain if this rally represents a definitive turning point for Brett. Although Bitcoin has reclaimed the $60,000 level, it is technically still stuck in a two-week range and is in search of a solid catalyst to drive the price higher. Brett also remains below the descending trendline that has connected its highest swings since July 2. 
Further upside potential for Brett will be confirmed if the token surpasses the intraday high of $0.1167, which would indicate stronger bullish momentum in the market. 
 You might also like: <a href="https://crypto.news/spot-bitcoin-etfs-log-62m-in-inflows-ether-etfs-continue-3-day-outflow-streak/"> Spot Bitcoin ETFs log $62m in inflows, Ether ETFs continue 3-day outflow streak </a>

Brett crypto forms God candle; turning point still not confirmed

Table of Contents

crypto.news

Other articles published on Aug 20, 2024

Solana (SOL) Eyes a Potential Bullish Target

SEC Halts Solana ETF Filings Due to Concerns Over Security Status

Top Crypto Stars: Bonk, PlayDoge, and MoonBag Cater to Niche Market Demands

FLOKI Unveils Major Announcement: Telegram-based Trading Bot Is Live On Mainnet!

Bengaluru Auto Driver Accepts Payment in Cryptocurrency

Metaplanet Stocks Surge by Double Digits After the Latest Bitcoin Acquisition

Join our free newsletter for daily crypto updates!