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Tag: COIN

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Coinbase Reaches 2023 High After Massive Fall in Price

Coinbase is an American publicly traded company that operates a cryptocurrency exchange platform. The company was founded in 2012. Coinbase had its IPO in April 2021 at $327 per share. The major gains that $COIN IPO investors got was on the rally of Day 1. The all-time high of $COIN was at $420 which was also on that first trading day.

Each time the price of Coinbase tried to rally, the bears pushed price lower. The price was pushed down to $32 in December 2022, which currently stands as the all-time low. The fall from the IPO price in 2021 to the all-time low in 2022 showed that Coinbase lost 90% of its value.

As of November 2023, Coinbase has a market cap of $29.91 Billion. The opening price of $COIN in 2023 was at $36.73. The rally this year has made the price of Coinbase reach $131. The $131 price level is currently the 2023 high. We might see price fall below $100 in the coming weeks despite the rally.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get companies in your portfolio? Schedule a meeting with us here.

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Coinbase Trades Above $100

Coinbase Global Inc. is an American publicly traded company that operates a cryptocurrency exchange platform. It is the largest cryptocurrency exchange in the United States by trading volume. The company was founded in 2012 by Brian Armstrong and Fred Ehrsam.

From the resistance level at $357.39 where it was on November 9, 2021, Coinbase stock fell to the all-time low at $32.53 on December 28, 2022. Since August 2022, $COIN has maintained a resistance level at $116. In the same August 2022, price fell below $100. For almost one year, price of $COIN has been trading below $100 up until the week of the 10th of July when price crossed the psychological level of $100 to the upside. The price is currently at $106.67 as of the time of this writing.

The bullish momentum might come to an end soon as the bears could push price to $40 in the coming weeks. RSI has shown us on the daily chart that price is overbought. This could be an indication of a possible price reversal.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stock in your portfolio? Schedule a meeting with us here.

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Bulls Get Set for Coinbase

Since Coinbase share price dipped from the all-time high at $430 which was reached in the month of its IPO, each time the bulls make efforts to rally the price, the bears counteract it. All monthly candlesticks since its IPO have closed below the IPO price.

Daily Chart

There was a bounce from the all-time low at $39.25 in May 2021. The current price of $COIN is at $66.21. The second half of the year has been characterized by a range. Price has been ranging between $46 and $116.72, with $116.72 being the current resistance level on the monthly time frame. We might be seeing price reach $100 before the end of the year as Google sets to partner with Coinbase.

Weekly Chart

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get crypto-curencies in your portfolio? Schedule a meeting with us here

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Coinbase Gained About 10% In A Day

It seems the second half of this year will bring a lot of hope for investors as the monthly candlesticks for July and August ended in profits. Since Coinbase’s IPO in April 2021, Investors from the IPO day have had no cause to smile to the bank. All monthly candlesticks have closed below the IPO price at $380. The 2021 lowest price was at $201, which was in May 2021. Each time the share price tried to rally, it was counteracted by the efforts of the bears.

The opening price for this year was at $258. Price went lower to reach an all-time low at $42 in May 2022. Coinbase is the second largest Crypto exchange company in the world with over $1.4million worth of transactions done daily. On the 9th of September, the coinbase shares opened with a gap up at $78 from the previous day of $72. After that gap up, the market closed at $80.87.

Weekly Chart

On the monthly chart, there is an inverted hammer and a doji towards the support level around $42.  As investors are hopeful for an appreciation in the price of $COIN due to increased acceptability of crypto assets in the world, we should be seeing a rally in the share price of Coinbase in the coming months. The psychological level of $100 might be reached before the end of this year. The RSI shows that the weekly and monthly charts have been oversold, an indication for a possible rally.

Monthly Chart

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here

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Coinbase Share Price On A Catastrophic Descent

Coinbase was one of the most promising stocks of 2021 because right on the first day it launched on NASDAQ, its share price shot from $379 to $428 in less than 24 hours. This price rise led many investors to buy into Coinbase as they expected the price to keep up the bullish momentum. However, it seems fortune was not on the side of Coinbase after all. 

Weekly Chart

For the first 6 weeks post-IPO in April 2021, the price began its descent, but investors didn’t worry. The price then began to range from that time until October 2021. At the end of October 2021, the price closed at $318. Afterward, the price began a long-awaited rally that pushed the price to $368. But this price will end up becoming the high in Q4 2021. Since then, Coinbase’s price has been remarkably bearish. Despite being the month of its high, November managed to close on a bearish note. The months that followed – from December 2021 to April 2022 – have all closed with a bearish candlestick.

Daily Chart

As mentioned earlier, Coinbase’s price has been majorly bearish since the end of the IPO day on April 14, 2021. All investors that bought Coinbase post-IPO day are at a loss, and the loss seems to be getting worse by the day as the price plunges to the $100 psychological level. RSI indicates an oversold position on the daily and weekly time frames which could be an indication of a possible rally. Our analysts look forward to the formation of an inverted head and shoulder pattern on the charts. If this happens, bulls can pick up some steam and push the price above $200.

Some of these ideas are in our clients’ portfolios. To understand if this one can work for you or for help to invest your own wealth, talk to our advisors at FM Capital Group. Would you like more information on how to get stocks in your portfolio? Schedule a meeting with us here.

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COINBASE IS CURRENTLY BASING

Coinbase Global ($COIN), which operates, as a cryptocurrency exchange platform, debuted as a public stock in mid-April. At this time, many cryptocurrencies became even more volatile and saw a significant drop in price. Coinbase was founded in June 2012 by Brian Armstrong, a former Airbnb engineer. Armstrong enrolled in the Y Combinator start-up incubator program and received a $150,000 cash infusion.

Since the Coinbase stock debuted publicly, it has been on a downtrend. The share price opened at $381, the intraday high was at $429.54, and then traded as low as $310. The current chart of $COIN is just a good representation of lower lows and lower highs since it was listed. The support level has been maintained at $216.78 since mid of May 2021. Since this May, the price has been ranging between $216.78 and $247.99.

On the RSI, there have been many instances of the price being oversold. Price is currently on the lower region of the Bollinger bands. A breakout to the upside at the breakout level line on the chart might push the price to $300. The crackdown on Crypto in China might have caused the price of $COIN to drop.

However, cryptocurrency has been believed by a few people as the currency of the future.

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