Coinbase shares surged 20% to a three-year high Monday as investors bet that higher trading volumes and a more favorable regulatory environment under the incoming Trump Administration could benefit the crypto exchange. The stock broke out above the top trendline of a seven-month descending channel last week on above-average volume, with follow-through buying continuing into this week. We should watch key overhead levels on the Coinbase chart around $369, $430, and $695, while monitoring an important support area near $220.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
- extractoi·11-12Exciting times for CoinbaseLikeReport
- JackPowell·11-12Buy the dipLikeReport