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- 1 COIN stock price is ranging in between its 50 and 100-day moving average.
- 2 Since last 1 month, COIN stock dropped over 10%.
Coinbase (COIN) stock price followed a bearish trend that took its price down from its 20 and 50-day moving averages. At press time, the pre-market of COIN stock showed its traveling towards 100 and 200-day moving averages. The pre-market price is showing over 1% price decline in its share price.
However, in recent day, COIN stock price has experienced over 6 Million of volume activity with a 0.70% price gain. Additionally, in the last 6 months, the stock price noted over 60% price gain.
COIN Stock Price Performance in 1 Month
The pre-market session of COIN stock showed a slight decline, opposing its previous day’s performance. Whereas since last 1 month COIN share price already has shown a nearly 10.50% decline which now needs to change its path. In a month, COIN share price noted its monthly high at $88.04 whereas the low was at $73.19.
However, last week the active bulls tried to make a comeback that took its price above the 20-day EMA but the increased bears’ activity then dropped down COIN share price.
The RSI still needs more bear activity that may take it near the oversold zone, but as bulls have shown their little support it seems like it is stuck in a place. Although, opposing the previous day’s performance COIN stock dropped down if it stayed during an intraday session then the stock may reach near $77.00.
The analysts have set their 1-year price target at $89.77, up over 15% from the recent closing price of COIN stock. Whereas their maximum estimate is $200.00 and the minimum estimate is $27.00.
The Financial Update of Coinbase Global
Coinbase Global Inc. (NASDAQ: COIN), an American publicly traded company, has a market cap of nearly $18.52 Billion. Earlier last month the company reported its Q2 2023 result that states its net income is negative $97.41 Million.
The Q2 2023 report of Coinbase highlights that its earnings per share (EPS) is negative $0.42 whereas the estimation was negative $0.76 which accounts for a 44.42% surprise. The revenue for the similar quarter amounts to $707.91 Million despite the estimated figure of $627.60 Million.
For the next quarter, the estimated EPS is negative $0.51, and revenue is expected to reach $675.02 Million. Moreover, last year the revenue of Coinbase Global Inc. reached $3.19 Billion. Out of which $2.24 Billion came from its highest performing source at the moment, “retail”.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
