Coinbase Wrapped BTC Price Prediction: CBBTC Climbs 1% As Traders Rush To Buy This ICO With A 1,195% APY

The
Coinbase
Wrapped
BTC
price


posted

a
1%
gain
over
the
past
24
hours
to
trade
at
$58,374.41
as
of
7:32
a.m.
EST
as
investors
start
to
buy
into
the


Bitcoin

alternative.

Throughout
the
past
trading
session,
the
CBBTC
price
rose
from
an
intraday
low
of
$57,559.21
to
currently
trade
at
its
24-hour
high.

The
Coinbase
Wrapped
BTC
Price
Trades
Sideways

4-hour
chart
for
CBBTC/USD
(Source:


GeckoTerminal)

The


Coinbase
Wrapped
BTC

price
plunged
from
a
high
of
$85,424.35
to
within
a
consolidation
channel
between
$57,951.70
and
$59,545.15
in
the
last
24
hours.
Should
the
crypto
drop
below
$57,951.70
through
the
course
of
the
next
trading
day,
it
could
be
at
risk
of
falling
to
the
key
support
level
at
$55,452.80
in
the
short
term.

On
the
other
hand,
CBBTC
overcoming
the
$59,545.15
barrier
in
the
next
24
hours
could
invalidate
the
bearish
thesis.
In
this
alternative
scenario,
the
Coinbase
Wrapped
BTC
price
could
attempt
to
flip
the
$61,390.20
mark
into
support
before
potentially
re-visiting
its
earlier
high.

Technicals
Show
The
Coinbase
Wrapped
BTC
Price
Is
Under
Bearish
Pressure

From
a
technical
perspective,
indicators
on
the
crypto’s
1-hour
chart
show
that
the
Coinbase
Wrapped
BTC
price
is
currently
under
severe
bearish
pressure.
More
specifically,
the
9
Exponential
Moving
Average
(EMA)
and
the
Relative
Strength
Index
(RSI)
suggest
the
crypto
has
some
work
to
do
before
it
can
begin
to
climb.

The
9
EMA
is
currently
acting
as
a
technical
barrier
for
the
Coinbase
Wrapped
BTC
price,
with
the
crypto
trading
below
the
indicator.
What’s
more,
the
current
RSI
reading
is
below
10.
This
indicates
that
CBBTC
is
extremely
oversold. 

Traders
generally
see
low
RSI
readings
as
a
buy
signal
because
they
suggest
that
a
crypto’s
upside
potential
is
greater
than
its
downside
potential.
However,
it
is
not
unusual
for
the
RSI
to
remain
low
when
a
crypto
is
dumping,
which
might
be
the
case
for
Coinbase
Wrapped
BTC. 

One
thing
to
keep
in
mind
is
that
CBBTC
is
a
new
entrant
to
the
market,
looking
at
the
lack
of
price
data
for
the
crypto.
As
such,
technical
indicators
might
not
tell
the
full
story
at
this
early
stage.

While
CBBTC
tries
to
find
its
footing
in
the
market,
investors
are
flocking
to
new
meme
coin


Crypto
All-Stars
(STARS),
which
offers
annual
staking
rewards
that
are
estimated
at
a
stratospheric
1,195%.

The
Future
Of
Crypto
Staking

Crypto
All-Stars
(STARS)
is
an
innovative
meme
coin
project
that
aims
to
consolidate
staking
rewards
in
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
start
accumulating
rewards
that
are
paid
out
in
STARS.

This
gives
meme
coin
investors
the
opportunity
to
essentially
earn
compounded
rewards
on
one
platform.

This
unified
staking
approach
has
excited
analysts
and
experts,
including
popular
YouTuber
ClayBro.
In
a
video
to
his
130K
subscribers,
he
said
that
Crypto
All-Stars
could
shake
up
the
entire
meme
coin
ecosystem.

Investors
Rush
To
Buy
STARS
Befores
Its
Price
Increases

Crypto
All-Stars
has
raised
over
$1.2
million
through
its
ongoing
ICO
so
far,
signaling
strong
investor
confidence
in
the
project’s
future. 

With
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
the
bullish
predictions
by
analysts
such
as
ClayBro,
it’s
easy
to
see
why
investors
are
betting
big
on
STARS
at
this
early
stage.

Anyone
looking
to
buy
the
token
during
its
ICO
phase
can
do
so
using
the
simple
buy
widget
embedded
on
the
project’s
website.

Selling
for
$0.0014419,
STARS
can
be
bought
using
either
ETH,
USDT,
BNB,
FLOKI,
SHIB,
PEPE
or
DOGE.

Potential
investors
will
want
to
act
fast
to
lock
in
the
token
at
the
best
rate
because
its
price
is
set
to
increase
in
less
than
3
days.

Purchase
and
stake
STARS
for
an
APY
of
more
than
1,195%
here.

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