Pepe Coin

COIN

Coinbase Stock

<img width="1200" height="578" src="https://coingape.com/wp-content/uploads/2024/01/VaXnIvxH-e1706380982987.png" class="attachment-full size-full wp-post-image" alt="Coinbase Stock price" decoding="async" style="float:right; margin:0 0 10px 10px;">
Coinbase Stock Price Prediction: For nearly a month, the <a href="https://coingape.com/markets/coinbase-coin-stock-price-prediction-today-january-22/">Coinbase Stock</a> has witnessed a sharp correction with a price fall of $187 to $125. This downward projection has recently shifted sideways as the S&amp;P 500 Index hit a new all-time high this week. 
Moreover, in a recent interview with Yahoo Finance, Oppenheimer analyst Owen Lau pointed out that Coinbase’s ongoing legal challenges with the U.S. Securities and Exchange Commission (SEC), which accuses the company of breaching securities laws, could lead to volatility in its stock price around $125 mark. 
<blockquote>
 Having said that “This bitcoin ETF can bring in new investors” the analyst added later and continued, “To me, I think it’s a net positive for Coinbase longer-term”.
</blockquote> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 "This bitcoin ETF can bring in new investors," Oppenheimer &amp; Co. Inc. analyst Owen Lau says. "To me, I think it's a net positive for Coinbase longer-term…" <a href="https://t.co/9GtRe6JLIM">pic.twitter.com/9GtRe6JLIM</a> 
 — Yahoo Finance (@YahooFinance) <a href="https://twitter.com/YahooFinance/status/1749902002455200028?ref_src=twsrc%5Etfw">January 23, 2024</a>
</blockquote> 
<script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
<h2 id="strong-healthy-retracement-sets-the-asset-price-for-higher-rally-strong">Healthy Retracement Sets the Asset Price for Higher Rally</h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1">If the bearish momentum continues to drive the COIN share price down, the $111 support level will be the next decisive area of interest.</li> 
 <li style="font-weight: 400;" aria-level="1">A retracement to 50% FIB level is considered a constructive pullback to regain bullish strength</li> 
 <li style="font-weight: 400;" aria-level="1">The asset price above 100-and-200-day EMA reflects the long-term trend is bullish</li> 
</ul> 
<figure style="width: 100%" class="wp-caption alignnone">
 <img decoding="async" src="https://s3.tradingview.com/snapshots/v/VaXnIvxH.png" alt="Coinbase Stock Price Prediction" width="1946" height="937">
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 Coinbase Stock Price Prediction| TradingView Chart
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With the recent pullback of 33%, the <a href="https://coingape.com/coinbases-rating-downgrade-will-it-affect-the-price-of-other-cryptocurrencies/">COIN</a> price takes a descent to the 100-day exponential average line representing a distribution phase in motion. Breaking under the 38.20% Fibonacci level, the pullback phase in Coinbase stock price grows intense.&nbsp; 
Trading at $125, the downfall breaks multiple support levels and is heading directly towards the $111 barrier. Being a multiple contact resistance level before the breakout in the November 2023 rally, the horizontal level now acts as a crucial support with high reversal potential.&nbsp; 
Further, the $111 area of interest aligns close to the 50% Fibonacci level improving the chances for buyers to overtake trend control.&nbsp; 
Given the sustained upward trajectory of the US market, marked by the recent formation of an all-time high, and the parallel expectation for Bitcoin as it reclaims the $40K level, there’s a potential for the COIN price to encounter a reversal point in the near future. 
<h2 id="b-here-s-why-coinbase-share-price-is-still-under-bulls-control-b">Here’s Why Coinbase Share Price is Still Under Bulls Control</h2> 
A look at the daily time frame chart shows that <a href="https://coingape.com/crypto-stocks/coin/">Coinbase stock price</a> witnessed a 71.8% FIB correction in May-June 2023 and a 50% retracement in September-October 2023. This indicates the COIN price is familiar with aggressive pullback, probably up to 50% but is meant to recuperate the bullish momentum. 
Therefore, if the asset price shows a reversal pattern at $111 support, the market participants may witness a reversal of $145, followed by $162. 
<ul> 
 <li style="font-weight: 400;" aria-level="1">Exponential Moving Average: A downswing in 20- and 50-day <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMA</a> indicates the short-term is bearish.</li> 
 <li style="font-weight: 400;" aria-level="1">Relative Strength Index: The daily RSI slope at 39% reflects the sellers are strengthening their grip over this asset.</li> 
</ul> 
<h3 id="related-articles">Related Articles:</h3> 
<ul> 
 <li><a href="https://coingape.com/bitcoin-revealed-a-cautious-pre-halving-tale-with-dips-and-recovery/">Bitcoin Revealed a Cautious Pre-Halving Tale With Dips And Recovery</a></li> 
 <li><a href="https://coingape.com/crypto-prices-today-bitcoin-nears-42k-pepe-coin-crashes-30/">Crypto Prices Today: Bitcoin Nears 42K, Pepe Coin Crashes 30%</a></li> 
 <li><a href="https://coingape.com/bitcoin-btc-price-legendary-trader-john-bollinger-hints-next-step-to-watch/">Bitcoin (BTC) Price: Legendary Trader John Bollinger Hints Next Step To Watch</a></li> 
</ul> 
The post <a href="https://coingape.com/markets/coinbase-stock-price-prediction-will-correction-trend-push-coin-below-100/">Coinbase Stock Price Prediction: Will Correction Trend Push $COIN Below $100?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.

Coinbase Stock Price Prediction: Will Correction Trend Push $COIN Below $100?

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