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Coinbase Wrapped btc Price aware a 1% gain over the past 24 hours to trade at $58,374.41 at 7:32 a.m. EST as investors begin buying. bitcoin alternative.
Over the last trading session, the CBBTC price rose from an intraday low of $57,559.21 to currently trade at its 24-hour high.
Coinbase Wrapped btc Price Trading Sideways
CBBTC/USD 4-hour chart (Source: x/DGezkzyQ/”>GeckoTerminal)
He btc wrapped on Coinbase The price plunged from a high of $85,424.35 to a consolidation channel between $57,951.70 and $59,545.15 over the past 24 hours. If the cryptocurrency drops below $57,951.70 over the course of the next trading day, it could risk a drop to the key support level at $55,452.80 in the near term.
On the other hand, if CBBTC breaks the $59,545.15 barrier in the next 24 hours, it could invalidate the bearish thesis. In this alternative scenario, Coinbase Wrapped btc price could attempt to flip the $61,390.20 mark into support before revisiting its previous high.
Technical data shows that the price of wrapped btc on Coinbase is under bearish pressure
From a technical perspective, indicators on the cryptocurrency’s 1-hour chart show that the Coinbase Wrapped btc price is currently under strong bearish pressure. More specifically, the 9-point exponential moving average (EMA) and the relative strength index (RSI) suggest that the cryptocurrency has some work to do before it can start moving higher.
Currently, the EMA 9 is acting as a technical barrier for the Coinbase Wrapped btc price, and the cryptocurrency is trading below the indicator. Moreover, the current RSI reading is below 10. This indicates that CBBTC is extremely oversold.
Traders generally view low RSI readings as a buy signal because they suggest that a cryptocurrency’s upside potential is greater than its downside potential. However, it is not unusual for the RSI to remain low when a cryptocurrency is falling, which could be the case for Coinbase Wrapped btc.
One thing to keep in mind is that CBBTC is a newcomer to the market, given the lack of data on the cryptocurrency’s prices. As such, technical indicators may not tell the whole story at this early stage.
As CBBTC tries to find its place in the market, investors flock to the new meme coin crypto Stars (STARS)offering estimated annual staking rewards of a stratospheric 1,195%.
The future of cryptocurrency staking
crypto All-Stars (STARS) is an innovative meme coin project that aims to consolidate staking rewards into a single decentralized platform.
Once launched, investors will be able to earn passive rewards by locking up a variety of popular meme coins including DOGE, SHIB, PEPECOIN, FLOKI, BRETT, MOG, LADYS, TOSHI, COQ, BONK, and TURBO.
Once staked, meme coin lovers will begin accumulating rewards that are paid out in STARS. This gives meme coin investors the opportunity to essentially earn compound rewards on one platform.
This unified staking approach has excited analysts and experts, including popular YouTuber ClayBro. In a video for his 130,000 subscribers, he said crypto All-Stars could revolutionize the entire meme coin ecosystem.
Investors rush to buy STARS before its price rises
crypto All-Stars has raised over $1.2 million through its ongoing ICO so far, indicating strong investor confidence in the future of the project.
Considering the project’s appeal to meme coin investors, the unified staking system it aims to introduce to the light-hearted sector of the crypto space, as well as optimistic predictions from analysts like ClayBro, it’s easy to see why investors are betting heavily on STARS at this early stage.
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Anyone who wants to buy the token during its ICO phase can do so using the simple purchase widget integrated into the project's website.
STARS is selling for $0.0014419 and can be purchased using eth, USDT, BNB, FLOKI, SHIB, PEPE or DOGE.
Potential investors will want to act quickly to lock in the token at the best price because its price will increase in less than 3 days.
Buy and stake STARS for over 1,195% APY here.
Related articles:
The Most Wanted Cryptocurrency Launch: Pepe Unchained
- Layer 2 Meme Coin Ecosystem
- Featured on Cointelegraph
- SolidProof and Coinsult audited
- Rewards for participation – pepeunchained.com
- Over $10 million raised in ICO: ending soon
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