• Optimism (OP) is trading high at $1.71, with traders emboldened by Coinbase’s upcoming listing of BASE – an Ethereum layer-2 blockchain that uses Optimism-based technology.
• OP has undertaken an impressive run since the start of Summer, with OP value surging +65%.
• With strong technical structure and bullish indicators, OP appears poised to surge with a risk: reward ratio of 1.36.
Optimism on the Rise
Optimism (OP), Ethereum layer-2 scaling solution, has been rising in price over the past few months as anticipation builds for Coinbase’s upcoming BASE listing. The decision to list BASE has ignited a frenzy amongst traders who believe it was built using Optimism-based technology. With trading due to begin on August 9th, could we see a significant rally for OP?
Price Analysis: Will Optimism Skyrocket?
Currently trading at $1.71 (-0.06% 24H change), OP faces milestone resistance at $1.75 which saw 20 days of hard-fought testing back in May. Despite this ceiling of resistance, it has enjoyed an impressive 65% surge since the start of June and is now close to reclaiming critical support from the 200DMA (last seen May 8).
Indicators point towards further upside potential with RSI at 67.81 and MACD bullish at 0.015 – suggesting an alluring risk/reward profile with limited downside risk ($1.50) and potential upside reaching $2 (+16%).
The Next Crypto to Explode: Shibie
The crypto community is abuzz about Shibie – a new viral meme coin that’s recently seen its presale skyrocket towards $100K thanks to Barbenheimer’s endorsement on Twitter! Could this be the next crypto to explode?
Overall, it looks like both Optimism and Shibie are set for success over the coming weeks as markets prepare for Coinbase’s BASE listing and Shibie continues to draw attention from influencers like Barbenheimer!