Coinbase Stock Rebounds at $145 Support Level
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 day ago
0mins
Should l Buy COIN?
Source: Benzinga
- Support Level Reversal: Coinbase's stock price rebounded at the $145 support level, indicating strong buyer interest at this price point, suggesting an improvement in market sentiment and the potential for a new uptrend.
- Market Dynamics Shift: In August 2024, Coinbase faced a downtrend due to selling pressure, but the $145 support attracted a significant influx of buyers, creating new buying momentum.
- Increased Buying Intent: Many investors who sold shares at the $145 support realized their mistake and decided to buy back at the same price in the future, further solidifying the effectiveness of this support level.
- Potential Uptrend: As competition among buyers intensifies, Coinbase's stock price may continue to rise, forming a new upward trend and attracting more investor attention.
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Analyst Views on COIN
Wall Street analysts forecast COIN stock price to rise
25 Analyst Rating
17 Buy
7 Hold
1 Sell
Moderate Buy
Current: 141.090
Low
230.00
Averages
361.63
High
440.00
Current: 141.090
Low
230.00
Averages
361.63
High
440.00
About COIN
Coinbase Global, Inc. is a holding company of Coinbase, Inc. and other subsidiaries. The Company provides a platform that serves as a compliant on-ramp to the onchain economy and enables users to engage in a variety of activities with their crypto assets in both proprietary and third-party product experiences enabled by access to decentralized applications. It offers consumers their primary financial account for the cryptoeconomy; institutions a full-service prime brokerage platform with access to deep pools of liquidity across the crypto marketplace, and developers a suite of products granting access to build onchain. Its platform helps people and institutions to engage with crypto assets, including trading, staking, safekeeping, spending, and global transfers. It offers products and services to various customer groups: individuals, businesses, institutions, and developers. Its transaction products consist of consumer trading, prime Trading, markets, base protocol and Coinbase wallet.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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