NEAR Protocol

COIN

Coinbase Stock

Spot

<p><span style="font-weight: 400;">The <a href="https://coingape.com/crypto-stocks/coin/">Coinbase stock price</a> has been aggressively bullish in the last two weeks, following the massive inflow in Spot Bitcoin ETF, and BTC price rally. The increasing inflow in 8 ETFs is bolstering the revenue of this cryptocurrency exchange platform, positively affecting its share price. Today, the asset price is currently 15% up with a huge gap as Coinbase’s fourth-quarter(Q4) earnings beat analyst expectations. Is a rally to $250 imminent?</span></p> 
<p>Also Read: <a href="https://coingape.com/coinbase-to-launch-perpetual-futures-for-polkadot-internet-computer-and-near-protocol/">Coinbase to Launch Perpetual Futures for Polkadot, Internet Computer, and NEAR Protocol</a></p> 
<h2 id="b-coinbase-stock-price-surges-on-earnings-beat-b"><b>Coinbase Stock Price Surges on Earnings Beat</b></h2> 
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  Coinbase Stock Price| Tradingview
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            <p>The ongoing rally in <a href="https://coingape.com/bitcoin-price-to-hit-301k-before-halving-analyst-predicts/">Bitcoin</a>, the largest cryptocurrency by market cap, has significantly influenced various crypto-related stocks, including Coinbase (COIN), MicroStrategy (MSTR), Robinhood (HOOD), etc., nearly recovering the entire loss from the last correction trend.</p> 
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<p><span style="font-weight: 400;">In the last two weeks, the COIN price jumped from $114.5 to $191.2, registering a 67% growth. The stock is 15% up today and is likely attributed to Coinbase’s Q4 figures demonstrating a 41% increase in total revenue quarter over quarter, amounting to $954 million. The adjusted EBITDA soared by 69% in the same period, reaching $305 million. Net income also saw a substantial rise, with Q4 hitting $273 million.</span></p> 
<blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 <p lang="en" dir="ltr">Our Q4'23 and full-year 2023 update is in.</p> 
 <p>Read the full shareholder letter and tune into our earnings call: <a href="https://t.co/fod43YZKqw">https://t.co/fod43YZKqw</a> <a href="https://t.co/DJ2NhFyfdU">pic.twitter.com/DJ2NhFyfdU</a></p> 
 <p>— Coinbase <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6e1.png" alt="🛡" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@coinbase) <a href="https://twitter.com/coinbase/status/1758239866234839254?ref_src=twsrc%5Etfw">February 15, 2024</a></p>
</blockquote> 
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<p><span style="font-weight: 400;">With a strong financial report and bullish sentiment in the broader market, the <a href="https://coingape.com/coinbases-rating-gets-positive-boost-from-jp-morgan-crypto-bull-run-ahead/">Coinbase</a> stock price is projecting sustainable growth for the near future.&nbsp;</span></p> 
<p>Also Read: <a href="https://coingape.com/coinbase-clo-urges-wsj-data-correction-after-treasury-clears-hamas-of-crypto-terrorism/">Coinbase CLO Urges WSJ Data Correction After Treasury Clears Hamas Of Crypto Terrorism</a></p> 
<h2 id="b-bullish-pattern-signals-a-change-in-market-trend-b"><b>Bullish Pattern Signals a Change In Market Trend</b></h2> 
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  Coinbase Stock Price| Tradingview
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<p><span style="font-weight: 400;">A look at the daily time frame chart shows the current recovery forms a bullish reversal pattern called cup and handle. This chart setup developed for nearly two years reflects a strong influence on Coinbase’s share price. With this week’s price jump, the coin buyers gave a decisive breakout from the neckline resistance at $187, providing a new opportunity for market buyers.</span></p> 
<p><span style="font-weight: 400;">If the weekly candle closes above the breached neckline, the potential target for the <a href="https://coingape.com/jpmorgan-upgrades-coinbase-as-bitcoin-surges/">COIN</a> price is $357.</span></p> 
<h2 id="b-technical-indicator-b"><b>Technical Indicator:&nbsp;</b></h2> 
<ul> 
 <li style="font-weight: 400;" aria-level="1"><b>Exponential Moving Average: </b><span style="font-weight: 400;">The COIN price trading above the daily <a href="https://coingape.com/education/exponential-moving-average-how-to-leverage-it-in-crypto-market/">EMAs</a>(20, 50, 100, and 200) indicates the overall trend is strongly bullish</span></li> 
 <li style="font-weight: 400;" aria-level="1"><b>Average Directional Index: </b><span style="font-weight: 400;">The ADX slope uptick at 20% reflects the share price has more room to grow.</span></li> 
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<p>Also Read: <a href="https://coingape.com/crypto-prices-today-bitcoin-sustains-49k-pepe-xrp-dip-as-pyth-rallies-15/">Crypto Prices Today: Bitcoin Sustains 49K, PEPE &amp; XRP Dip As PYTH Rallies 15%</a></p> 
<p>The post <a href="https://coingape.com/markets/whats-next-for-coinbase-stock-coin-price-surged-63/">What’s Next for Coinbase Stock ($COIN) After Price Surged 63% Within Fortnight?</a> appeared first on <a href="https://coingape.com">CoinGape</a>.</p>

What’s Next for Coinbase Stock ($COIN) After Price Surged 63% Within Fortnight?

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