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The Ethereum Optimism (OP) layer-2 blockchain experienced a bearish reversal starting on August 23, 2023.
Despite the asset being in an overall bearish trend over the past 24 hours, its trading volume has surged by 29%, signaling an increase in buying activity.
According to Geckoterminal, OP is trading at $1.41 as of 6:17 a.m. EST, indicating a 3.1% rise. Additionally, its weekly performance stands at a gain of 14%. Can it achieve a 40% climb soon?
OP Falling Wedge Signals Bullish Momentum
The bears have been driving OP into a bearish trend after encountering resistance that forced the bulls to retreat.
The struggle between the bears and the bulls has led to the forming of a falling wedge pattern characterized by two lower lows and two lower highs.
This falling wedge pattern signals a potential trend change, which could empower the bulls to push the price higher.
The initiation of a surge by the bulls will be signaled by a daily bullish candle breaking above the falling wedge. The 21-day moving average and immediate support for Optimism also support the recent surge.
However, the price still needs to break above the 50-day moving average, which coincides with the upper boundary of the falling triangle.
Additionally, the relative strength index (RSI) is bullish, trading at 54, above the neutral position of 50. This indicates bullish solid momentum towards the overbought region at 70.
This analysis shows a bullish bias for the Optimism price, supported by the falling wedge pattern.
Confirmation of the bullish trend will occur if the bulls successfully break above the falling wedge, with critical areas of interest at $1.62 and $1.79.
Conversely, if the 50-day simple moving average continues to hold as strong resistance, the bears may seize the opportunity to drive the price downward toward the $1.22 support level.
The BTCBSC presale project may be worth considering for investors seeking opportunities as it offers high returns. It offers a staking mechanism that can provide passive income for investors.
BTCBSC Crosses $2.6 Million
Bitcoin BSC (BTCBSC) has gained significant attention as it integrates Bitcoin with the Binance Smart Chain (BSC). Inspired by Bitcoin’s success, this cryptocurrency has raised over $2.6 million towards its $3.96 million soft cap since its launch in September 2023, nearing completion.
https://twitter.com/Bitcoinbsctoken/status/1703682926859239877?s=20
Around a month ago, a project similar to BTCBSC, called BTC20, started at a presale price of $1 and experienced substantial price increases post-launch, indicating the growth potential of BTCBSC.
Investors who got in early on BTC20 saw up to a 326% return on their investment, highlighting the potential for significant gains in the crypto space, which could also be achievable with BTCBSC.
BTCBSC aims to replicate Bitcoin’s early history on the Binance Smart Chain by introducing a staking smart contract that rewards holders with BTCBSC tokens based on a designated block schedule.
Stake to Earn Passive Income
About 1,408,284 BTCBSC tokens have been staked so far, offering an impressive annual percentage yield (APY) of 187%.
However, the high APY may raise concerns, especially compared to the lower interest rates in traditional economies.
https://twitter.com/Bitcoinbsctoken/status/1703680316831875567?s=20
Bitcoin BSC provides a real-time staking dashboard for monitoring token holders to ensure transparency.
The project has also undergone comprehensive smart contract audits and guarantees locked liquidity upon listing on the Uniswap DEX.
Staking represents a potentially profitable way to earn passive income in the crypto ecosystem.
Moreover, BTCBSC has gained recognition in the crypto space, featuring on platforms like Cointelegraph and Crypto News, which enhances its credibility and growth potential.
With expectations that over 80% of the total supply will be locked up by the end of the presale, BTCBSC’s token could begin its journey with a significant surge, possibly reaching a 10x increase due to a scarcity of available tokens, encouraging investors to secure their share swiftly.
For information on low-cap cryptocurrency investments, refer to our guide on top buying choices.
BTCBSC Presale Selling Out Fast
The presale is selling out fast and has already garnered $2,817,856 in funds, equivalent to the circulating supply of Bitcoin during its early days.
Jacob Crypto Bury, a prominent crypto YouTuber, has assessed BTCBSC as a potential 10x investment, suggesting the possibility of substantial returns for investors who hold significant positions in BTCBSC.
Investors can acquire BTCBSC tokens at an attractive price of just $0.99 per token, and there are 6.125 million tokens available for purchase.
Following the conclusion of the presale, an additional 420,000 tokens (2%) will be set aside for a future release on decentralized exchanges.
To participate in the presale, you can connect your wallets to the BTCBSC website and use BNB, ETH, or USDT to buy tokens.
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