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- 1 Coinbase Global’s price decreased by 0.62% over the past seven days.
- 2 Coinbase Global Inc. (NASDAQ: COIN) stock’s 52-week price range is $31 – $114.
Coinbase Global Inc. faces a lawsuit from the SEC for providing crypto lending services without permission. Coinbase says it attempted to work with the SEC, but was told to halt trading all cryptos, except Bitcoin. Coinbase argues that the SEC’s actions are hurting innovation and customers.
Coinbase Global Inc. stock’s earnings have been declining by an average of -36.2% per year, as reported by Simply Wall St., a financial website. This is lower than the annual earnings growth of 15.5% for the capital markets industry. Its revenues have also been growing by an average of 39.5% per year.
Coinbase Global Inc. has a shareholder equity of $5.7 Billion and a debt of $3.6 Billion, which gives it a debt-to-equity ratio of 62.8%. As per Simply Wall St., Coinbase Global’s stock assets and liabilities are $139.3 Billion and $133.6 Billion, respectively.
The market capitalization of COIN stock is $23.136 Billion and the total revenue is $3.194 Billion. Moreover, the stock’s basic EPS is negative $10.18 and the price-to-earnings ratio is negative 10.2. Moreover, the average volume is 18.016 Million and the current volume is 8.493 Million, where the current volume is below the average volume.
Moreover, the COIN stock has done well this month, increasing by 33.62%, and surging by 66.91% in the last six months. Coinbase Global Inc. (NASDAQ: COIN) stock has a positive year-to-date return of 170.24% and also a positive 1-year return of 63.97%.
Technical Analysis of Coinbase Global Price in 1-D Time Frame
The price action shows Coinbase Global Inc.’s (NASDAQ: COIN) price has shown a bullish trend for the last three months, rising by 96.43%. At the time of publication, COIN price was trading at $98.61 and forming a symmetrical triangle in the one-day time frame. This pattern indicates the COIN price is consolidating and will soon choose a direction, which could be either up or down.
Therefore, if the COIN price holds the current level, it could move upwards and reach the first and second targets of $127.13 and $137.48. However, if the COIN price rejects the current level and drops, then it might hit the nearest support levels of $82.69 and $68.07 over the one-day time frame in Coinbase Global price.
At the time of publishing, Coinbase Global Inc. is trading above the 20, 50, 100, and 200-day EMAs (exponential moving average), which supports the Coinbase Global stock price trend.
However, the Coinbase Global price took a pullback in the last couple of days and the price seems to be declining. Moreover, if the COIN price fails to sustain, then the Coinbase Global price might decline by breaking major EMAs one by one over the daily time frame chart.
The current value of the relative strength index (RSI) is 61.12 points. The 14 SMA is above the median line at 70.22 points which indicates bearishness that the Coinbase Global price has changed direction and is declining by taking rejection from 14 SMA.
The moving average convergence divergence (MACD) line at 7.47 and signal line at 9.02 are above the zero line, and a bearish crossover was observed in the MACD oscillator, which signals more bearishness for the COIN stock price.
Summary
Coinbase Global Inc. (NASDAQ: COIN) shows that the investors and traders of the stock are bearish on the 1-D time frame. The price action reflects a bearish outlook at the time of publishing. The technical parameters of the COIN stock price also support the bearish trend. The major indicators- MACD, RSI, and EMA are giving negative signals and imply that the downtrend may continue in COIN stock price.
Technical Levels
- Support Levels: The nearest support levels are $82.69 and $68.07.
- Resistance Levels: The nearest resistance levels are $127.13 and $137.48.
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
