🤑Hi Tigers🤑,
Bitcoin hits $35,000, the highest since May 2022 on ETF hopes, $2X BITCOIN STRATEGY ETF(BITX)$ , $VanEck Bitcoin Strategy ETF(XBTF)$ , $Grayscale Bitcoin Cash Trust (BCH)(BCHG)$ , $GLOBAL X BLOCKCHAIN & BITCOIN STRATEGY ETF(BITS)$ and other ETF prices also rose decently.
Today, Trend Radar invites you to pay attention to $Coinbase Global, Inc.(COIN)$ .
2.What May Drive $Coinbase Global, Inc.(COIN)$ ‘s Price Higher？
Business: Investment firm BlackRock’s iShares BTC Spot ETF is listed on the DTCC, indicating possible approval from U.S. regulators SEC. Increasing regulatory clarity and good news about ETFs are favorable factors for the $Coinbase Global, Inc.(COIN)$ trading platform.
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Earnings: $Coinbase Global, Inc.(COIN)$ reported Q2 Earnings Beat Estimates, Revenues Fall Y/Y in August. Total revenues of $708 million beat the Zacks Consensus Estimate by 10.6%.
Valuation: $Coinbase Global, Inc.(COIN)$ ‘s current price-to-earnings ratio (TTM) is- 13.57, lower than the industrial average data at 44.51.
Target Price from TipRanks: Based on 18 Wall Street analysts offering 12 month price targets for $Coinbase Global, Inc.(COIN)$ in the last 3 months. The average price target is $85.50 with a high forecast of $150.00 and a low forecast of $27.00. The average price target represents a 10.74% change from the last price of $77.21.
3. Other Discussions on $Coinbase Global, Inc.(COIN)$
Cited from Dhawal Chheda,the Founder/CEO CCM & @InvesteeA:
Breakout: If the price breaks and closes above the $84 resistance level with significant volume, it could potentially signal a bullish trend continuation. The height of the range, which is about $12 (84-72), can be added to the breakout point to set a potential target. This would suggest a target of around $96
Breakdown: If the price drops and closes below the $72 support level with strong volume, it might indicate a bearish move. Using the range's height, a potential target would be around $60
Within the Range: If the stock remains within the rectangle without a clear breakout or breakdown, it might continue oscillating between the support and resistance levels.
Cited from Nebraskangooner, Advisor@BingXEnglish :
Surprised to see how much this is lagging behind Bitcoin, usually it sees similar price action. Don't want to FOMO in at resistance but a break above trendline would see room for upside and that's when I'd look to enter.
Cited from IncomeSharks:
After hours showing $85. Caught the local low of that almost perfectly and should be up 20% at open tomorrow.
4. Question for Tigers
Do you think its a good buy opportunity for the $Coinbase Global, Inc.(COIN)$ recently?
What’s your target price for $Coinbase Global, Inc.(COIN)$ ?
Any other stocks will also benefit from the positive sentiment?
Comments
Do you think its a good buy opportunity for the $Coinbase Global, Inc.(COIN)$ recently?
What’s your target price for $Coinbase Global, Inc.(COIN)$ ?
Any other stocks will also benefit from the positive sentiment?