Shibie Soars to $100k: Barbenheimer’s Next Crypto Craze?6. August 2023
• Optimism (OP) has been on a multi-month climb as markets brace with anticipation for a huge upcoming Coinbase BASE listing.
• 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.
• Barbenheimer Sends Shibie Presale Skyrocketing Towards $100,000
Optimism (OP) Price Rockets Up
Optimism (OP), an Ethereum layer-2 scaling solution, has been enjoying a steady increase in price as markets brace for the upcoming Coinbase BASE listing. With BASE set to begin trading on Coinbase on August 9, traders are emboldened by the idea that BASE is built using Optimism-based technology and are expecting OP to see a major rally over the coming week.
Price Analysis: Will Optimism Skyrocket?
OP is currently trading at $1.71 (-0.06% 24hr change), facing resistance from the $1.75 price level which caused 20 days of testing back in May. Despite this resistance, OP has seen an impressive 65% surge since June and is now poised to reclaim critical support from its 200DMA (last seen May 8). The 200DMA price level at $2.00 forms an upside target ahead of the BASE listing.
Technical Indicators Provide Reasons For Caution
Although technical structure appears strong, indicators suggest some caution may be due before entering into any trades: Optimism’s RSI has risen dramatically and is now in an overbought signal at 67.81; however, MACD remains bullish with minor divergence to the upside at 0.015.
Risk: Reward Profile
The risk: reward ratio for OP stands at 1.36 – offering a reasonably good entry if market hype holds true – with local resistance found at $1.75 and lower support levels at $1.50 providing limited downside risk should retracement occur as expected from RSI indicators .
Barbenheimer Sends Shibie Presale Skyrocketing Towards $100K
A new meme coin called „Shibie“ is gaining traction amongst traders following recent tweets by influencer Barbenheimer which sent its presale skyrocketing towards $100K USDT value per unit!