Ethereum layer-2 scaling solution Optimism (OP) has been on a multi-month climb as markets brace with anticipation for a huge upcoming Coinbase BASE listing.
Coinbase’s decision to list BASE (an Ethereum layer-2 blockchain developed in-house by Coinbase) has ignited a frenzy in the markets for OP, with traders emboldened by the idea that BASE is built using Optimism-based technology.
With BASE due to begin trading on Coinbase on August 9, OP could enjoy a significant rally over the next week in the run-up.
OP Price Analysis: Will Optimism Skyrocket on BASE Listing?
As hype grows in the crypto community, OP is trading high at a current price of $1.71 (a 24-hour change of -0.06%).
This comes as OP faces milestone resistance from the $1.75 price level, which fuelled over 20 days of hard-fought resistance-testing back in May.
Despite the ceiling of resistance, OP has undertaken an impressive run since the start of Summer, with OP value surging +65% since the start of June.
Strong footing for this rally has come from the ascendent 20DMA, which carried the price up from $1.20 to $1.50 in July.
The upside move has poised OP to reclaim critical support from the 200DMA (last seen May 8), with the 200DMA price level at $2.00 now forming a topside target ahead of the BASE listing.
While technical structure is in good form, OP’s indicators provide more reason for caution.
Optimism’s RSI has heated up dramatically throughout the OP rally, now stood with an overbought signal at 67.81.
This bearish divergence suggests that OP price structure could be due a period of consolidation or retracement.
However, the MACD remains bullish with a minor divergence to the upside at 0.015.
Overall, with a perfect recipe of impressive fundamentals and strong technical structure, OP appears poised to surge – providing an alluring risk: reward profile.
Upside potential is targeting a push above local resistance at $1.75 to reclaim the 200DMA at $2.00 (16.82%).
Downside risk is limited with a nearby lower support level at $1.50 (-12.38%).
This leaves OP’s risk: reward ratio at 1.36 – a reasonably good entry is market hype holds true.
Barbenheimer Sends Shibie Presale Skyrocketing Towards $100,000
There’s a new pup in town, and it’s gearing up to leave a paw print so indelible that you’ll be talking about it for years to come.
Meet Shibie, the glamorous Shiba Inu-Barbie crossbreed ready to take the crypto space by storm – yes, you heard right. Hollywood’s blockbuster sensation Barbie and the ever-viral Shiba Inu have joined forces in the form of this disruptive token, set to redefine the meme coin space.
Without wasting a second, the Shibie presale is on with almost $100,000 already raised, and with 60% of supply on offer, tokens are priced at an alluring $0.000167, there’s simply no time to waste.
Remember, we’re talking about raising a small seed funding round of $999,999, which could sell out in the blink of an eye considering the buzz around Shibie. So, make your move, and make it fast.
How Shibie Will Unlock Lucrative CEX Listings in the Near Future
With 1,000x gains or even more on the horizon, Shibie is set to outshine even the brightest stars in the crypto market.
What sets Shibie apart is its unique fusion of two cultural icons – the Shiba Inu and Barbie, creating an alluring charm that’s hard to resist.
This playful union of whimsy and glamor, encapsulated in a single token, is sure to captivate audiences and break boundaries as Barbie smashes the 15-year old box office record.
Dedicated to creating a diverse and inclusive community, the Shibie team has allocated 20% of the $SHIBIE token supply to DEX liquidity and 10% to centralized exchange (CEX) liquidity.
This strategy ensures smooth trading conditions right from its initial launch while widening $SHIBIE’s reach.
With a massive marketing drive in the pipeline, Shibie is all set to make headlines.
The team’s strong focus on liquidity and clever marketing ensures a vibrant presence across various media platforms, making Shibie the talk of the town.
Be a part of the Shibie revolution – seize the opportunity, invest in the presale, and make your mark in the crypto meme coin vertical.
Buy SHIBIE Here
Disclaimer: Crypto is a high-risk asset class. This article is provided for informational purposes and does not constitute investment advice. You could lose all of your capital.
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