Brett formed a “God candle” as sentiment in the crypto industry improved following Binance’s announcement of its futures listing.
Brett (BRETT), the largest meme coin on the Base Blockchain, surged among top-performing assets.
This surge was driven by Bitcoin (BTC) crossing the significant $60,000 resistance point, reaching its highest since Aug. 14. Most altcoins, including Dogwifhat (WIF) and Floki (FLOKI), rose over 10%, pushing the total market valuation to $2.13 trillion.
Brett’s strong performance was also fueled by Binance’s announcement that it will list the BRETTUSDT futures on Aug. 20. This listing permits users to trade the token with up to 50x leverage, often boosting prices upon major exchange listings.
The BRETT token further rallied after Base announced Basenames, a feature similar to Ethereum Name Service. Basenames will allow users to create user-friendly domains for on-chain activities, significant for Brett within the Base ecosystem.
Additionally, trading volume rose to $115 million, and futures open interest climbed to $33.5 million, its highest since Aug. 2.
Brett price rallied after dragonfly doji formation
Brett formed a “God candle” after establishing a falling wedge and a dragonfly doji, both bullish patterns.
The token had formed a falling wedge on the daily chart, often signaling a potential bullish breakout. Brett’s rally followed a small dragonfly doji candlestick, indicating a bullish reversal pattern.
However, it’s uncertain if this rally marks a definitive turning point for Brett. Despite Bitcoin’s $60,000 recovery, it remains in a two-week range, needing a solid catalyst for higher prices. Brett also remains below the descending trendline connecting its highest swings since July 2.
Confirmation of further upside potential will be if Brett surpasses the intraday high of $0.1167, signaling stronger bullish momentum.
