Coinbase Stock Forecast: COIN Stock Bounce Back Targeting $100
- Coinbase stock price trying to bounce back trading above 50 and 200 EMA levels.
- COIN currently trading at a value of $78.79 with a loss of -1.02%.
The Coinbase stock trying to bounce back from the lower levels. In previous sessions, the Coinbase stock price smashed the 50 and 20 EMA resistance levels with a strong bullish candle but cannot sustained above it. However, Coinbase stock needs to accumulate more buyers in order to start an upside trend and also break the primary resistance levels.
At the time of writing the stock price is trading at at a value of $78.79 with a loss of -1.02%. The current volume of the stock is 2.247 Million with a 10-day average volume of 7.882 Million. At present 174.472 Million shares float in the market.
In Quarter 2 2023 the company delivered a revenue of 707.91 million with a net income of -97.41 Million and the profit margin of this quarter is -13.76%. The revenue and net income of the company decreased as compared to the previous quarter. The above data showcases the weekly earnings of Coinbase stock.
Coinbase Stock Forecast: Analyst Price Targets
13 analysts gave 1-year price targets for Coinbase stock. They gave the maximum price prediction of $200 which is +153.55% above the current price. The minimum price estimation is $27 which is -65.77% below the current price and the average price target of $89.73 which is -13.74% below the current price.
Source: trading view
When we take a look at analyst ratings, 28 analysts gave their rating to Coinbase stock for the past three months. 9 analysts gave a strong buy rating, 11 gave a hold, 2 gave a sell and 6 gave a strong sell rating. However, the maximum weightage is on the neutral side.
Coinbase Stock Forecast: Price Targets For NYSE: COIN
Source: Tradingview
Coinbase stock forecast implies a recovery sign in the stock price. However, the stock price is currently trading beyond the 100 and 200-day EMAs and below the 50-moving average. Meanwhile, the stock price trying hard to cross the 50 and 20 EMA hurdles indicating the buyer’s presence in the market. This scenario showcases the buyers don’t want to shift their control right now.
The RSI line is heading towards the median line and gave a positive cross to the 14 SMA line indicating a positive outlook. MACD line is taking a turn and is about to give a bullish cross. MACD indicates a weakness in a bearish trend and a trend reversal may be possible soon.
Conclusion
Coinbase stock forecast is said to recover and reach the $100 mark if it breaks out of key EMAs and essential resistance levels. Furthermore, if the COIN stock price sustains above $82 resistance then it may reach a new high level. Furthermore, the stock’s performance throughout the year has been amazing with a year-to-date spike of about 114% Technical indicators indicate that Coinbase share price is in bullish momentum and get back on track soon.
Technical Support and Resistance level
Support levels: S1 = $69.15 and S2 = 58.70
Resistance levels: R1 = $82.55 and R2 = 93.00 .
Disclaimer
The research delivered in this article is for informative and educational purposes only. Do not depend on this information as financial, investment, or trading recommendations. Investing and trading involve risk. Please consider your circumstances and risk forbearance before making any investment conclusions.
