COIN

Million

Resistance

Billion

<ul class="list-ic vertical">
 <li><span>1</span> <a>COIN stock aims to break the consolidating range but on October 25, it declined by 5%.&nbsp;</a></li>
 <li><span>2</span> <a>Press time trading price of Coinbase stock was higher than 20, 50,100 and 200 day EMAs.</a></li>
 <li><span>3</span> <a>Coinbase Global, Inc’s market capitalization surged over 99% in 2023.&nbsp;</a></li>
</ul>
<p>COIN stock has been consolidating for the past few months in the range between $76 to $90. When writing, price was $77.79 and at the same time, it was above the 20, 50, 100 and 200 day EMAs.</p>
<h2 class="wp-block-heading" id="strong-coin-stock-price-analysis-strong"><strong>COIN Stock Price Analysis</strong></h2>
<p>In the 52 weeks time frame Coinbase stock price peaked at $114.43 and its lowest trading price was $31.55. Coinbase Global, Inc has a market capitalization of $18.45 Billion.&nbsp;</p>
<p>The MACD and signal line are in bearish territory and are trying hard to head towards the bulls region. In the previous trading session, RSI line was in the bulls’ region but by the end of the session, a slanting decline in the line towards the bearish region can seen.</p>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" loading="lazy" width="1080" height="571" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-774.png" alt="COIN Stock Aims to Break Consolidation; Will Bears Clear Path?" class="wp-image-178326" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-774.png 1080w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-774-300x159.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-774-1024x541.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-774-768x406.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-774-750x397.png 750w" sizes="(max-width: 1080px) 100vw, 1080px">
  <figcaption class="wp-element-caption">
   Source: COIN stock price from <a href="https://www.tradingview.com/x/NIxkkHWL/" rel="noopener noreferrer nofollow">TradingView&nbsp;</a>
  </figcaption>
 </figure>
</div>
<p>The annual price target of COIN stock is $84.95, however it is 9.21% greater than the press time trading price. In the pre-market session, Coinbase stock showed a $2.08 decline.&nbsp;</p>
<p>Compared to the bulls, bears were more aggressive in the past few weeks. If bears continued their dominance then there are possibilities of further decline. TradingView data states that 176.616 Million COIN shares are free floating and remaining 13.334 Million shares are closely held.&nbsp;</p>
<h3 class="wp-block-heading" id="strong-coinbase-global-inc-coin-financial-strong"><strong>Coinbase Global, Inc (COIN) Financial&nbsp;</strong></h3>
<p>The leading cryptocurrency Coinbase Global, Inc. shocked its shareholders by reporting a 12.08% spike in revenue in Q2 2023, than estimated figures. However the estimated revenue of the company for the quarter was $627.60 Million.&nbsp;</p>
<p>The reported EPS was seen copying the positivity of the revenue, the reported EPS was 44.42% greater than the estimates. In the financial year 2022, Coinbase Global, Inc. reported $3.19 Billion in revenue from which its net income was -$2.62 Billion and profit margin was negative 82.18%.</p>
<p>Coinbase is the second biggest cryptocurrency exchange and the exchange holds the record of processing the highest amount of Bitcoin in a 24 hours time frame.</p>
<p>A data from companiesmarketcap(dot)com states that Coinbase Global, Inc market capitalization surged more than 99% in 2023 compared to than in 2022.</p>
<h4 class="wp-block-heading"><strong>Technical Levels&nbsp;</strong></h4>
<p>Support Levels: $69.71 &amp; $66.23</p>
<p>Resistance Level: $85.54 &amp; $92.15</p>
<h4 class="wp-block-heading"><strong>Conclusion</strong></h4>
<p><a href="https://www.thecoinrepublic.com/2023/10/25/aep-stock-nasdaq-aep-gaining-strength-will-it-breach-75/" target="_blank" rel="noopener noreferrer nofollow">COIN stock </a>has been profitable in weekly and monthly frames but in a quarter its prices declined more than 24.17%. When writing, Coinbase stock was trading above 20,50,100 and 200 day EMA. However, for the past few weeks, bearish pressure has been observed which might be a reason for the consolidation.</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author or any people named in this article are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

COIN Stock Aims to Break Consolidation; Will Bears Clear Path?

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