$COIN breaks resistance as bulls eye $190 and higher

Trend_Radar
03-03 20:52

$Coinbase Global, Inc.(COIN)$

Coinbase Global, Inc.(COIN) Rallies +5.34%: Breaks Key Resistance, Eyes $190+ Zone

Latest Close

$185.24, up +5.34% ($9.39). The stock closed near its session high of $186.35, now trading ~58% below its 52-week high of $444.64.

Core Market Drivers:

  1. Strong positive net capital inflow of ~$12M on the day, with significant buying across all order sizes, indicates robust institutional and retail interest.

  2. The move coincides with a broader crypto market uptrend and follows recent positive analyst sentiment.

Technical Analysis:

  • The breakout is supported by strong volume (12.31M shares, 4.66% turnover).

  • The MACD histogram (10.70) is positive and expanding, signaling strengthening bullish momentum.

  • The 6-day RSI (63.98) is in bullish territory but not overbought, suggesting room for further upside.

Key Price Levels:

  • Primary Support: $172.22 (today's low).

  • Strong Resistance: $186.35 (today's high / immediate test level).

  • Immediate Pivot: $181.36 (previous resistance, now a key support).

Valuation Perspective:

TTM P/E of 41.65 is elevated but reflects its growth profile within the volatile crypto sector. The forward P/E of 49.90 is above its historical average of 12.37, indicating high growth expectations are priced in.

Analyst Targets:

31 analysts have a consensus average price target of $254.20 (37% upside). Sentiment is strongly bullish with 9 Strong Buy, 15 Buy, 11 Hold, and only 2 Sell ratings.

Weekly Outlook:

The immediate trend is bullish post-resistance break. Expect consolidation between $181-$190 in the coming week. A sustained close above $186.35 could target the $195-$200 zone. A break below $172.22 would invalidate the short-term bullish structure.

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Comment（1）

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  • Maria_yy
    ·03-03 21:08
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    Solid breakout! COIN aiming for $190 next. [看涨]
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