{"id":122927,"date":"2023-07-15T17:33:52","date_gmt":"2023-07-15T17:33:52","guid":{"rendered":"https:\/\/dripp.zone\/news\/coinbase-stock-price-soars-142-in-five-weeks-is-this-rally-sustainable-crypto-news\/"},"modified":"2023-07-15T17:33:55","modified_gmt":"2023-07-15T17:33:55","slug":"coinbase-stock-price-soars-142-in-five-weeks-is-this-rally-sustainable-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/coinbase-stock-price-soars-142-in-five-weeks-is-this-rally-sustainable-crypto-news\/","title":{"rendered":"Coinbase Stock Price Soars 142% in Five Weeks: Is This Rally Sustainable?\n &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-154341\">\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img loading=\"lazy\" width=\"1200\" height=\"681\" src=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/15225556\/mmqZCkOW-e1689442042900.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Coinbase Stock Price\" decoding=\"async\" srcset=\"https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/15225556\/mmqZCkOW-e1689442042900.png 1200w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/15225556\/mmqZCkOW-e1689442042900-300x170.png 300w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/15225556\/mmqZCkOW-e1689442042900-768x436.png 768w, https:\/\/cdn.coingape.com\/wp-content\/uploads\/2023\/07\/15225556\/mmqZCkOW-e1689442042900-150x85.png 150w\" sizes=\"auto, (max-width: 1200px) 100vw, 1200px\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">Published 9 minutes ago  <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">The Coinbase stock price has experienced an incredible surge over the past five weeks, displaying parabolic growth in the daily time chart.  Starting from the June 6th low of $46.3, the coin&#8217;s value has skyrocketed to its current price of $114, representing an astonishing growth of 142%.  This bullish rally can be attributed to the development of a bullish reversal pattern called <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/double-bottom-pattern\/\">double bottom<\/a> and the ripple effect caused by the recent surge in the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/xrp-price-shoots-60-in-hours-with-huge-whale-activity-fomo-kicking-in\/\">5th largest cryptocurrency-XRP<\/a>,  Can buyers continue this rally longer or is it time for sellers to enter?<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p>Also Read: <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/coinbase-stock-defies-lawsuit-and-crypto-winter-coin-price-shoots-by-16\/\">Coinbase Stock Defies Lawsuit And Crypto Winter;  $COIN Price Shoots By 16%<\/a><\/p>\n<h2><strong>Coinbase Price Daily Chart<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Profit booking from short-term investors could trigger a minor correction in the COIN price<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The potential pullback could witness strong support at the $100 psychological mark.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">A potential golden crossover between the 50-and-200-day EMAs could bolster the buying pressure. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"coinbase stock price\" width=\"1946\" height=\"1104\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/m\/mmqZCkOW.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" class=\"alignnone\" src=\"https:\/\/s3.tradingview.com\/snapshots\/m\/mmqZCkOW.png\" alt=\"coinbase stock price\" width=\"1946\" height=\"1104\"\/><\/noscript>Source-<\/span><span style=\"font-weight: 400;\">tradingview<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Amidst the recent rally, the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/crypto-stocks\/coin\/#:~:text=The%20live%20Coinbase%20stock%20price,trading%20volume%20of%20%2416%2C750%2C888%20USD.\">coinbase stock price<\/a> reclaimed some crucial chart levels such as $71.8, $85.5, and $98.7.  The bull rally back by increased volume indicates buyers&#8217; conviction to lead sustained growth.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">However, it seems, the COIN price has already witnessed a significant rally in a short period and any further growth is likely until some new positive news has spread.  As of press time, the stock price trades at the $105 mark, and the long-rejection wicks attached to the daily reflect the overhead supply pressure.<\/span><\/p>\n<\/blockquote>\n<p><span style=\"font-weight: 400;\">This rejection indicates this asset may witness a post-rally correction to replenish the exhausted bullish.  At such time, the reclaimed level mentioned above could act as suitable support to restart a bullish recovery.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><b>How Far Can the COIN Price Correct?<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">With a high selling pressure present at $114, the Coinbase stock price is poised for a minor retracement.  As per the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/fibonacci-retracement\/\">Fibonacci retracement levels<\/a>, the $100-98.7 support aligned with the 23.6% FIB level stands on solid footing to sustain higher prices.  In case of a longer correction, the stockholders can expect demand pressure at $88.45(38.2% FIB), followed by $80(50% FIB).<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Bollinger bands: <\/b><span style=\"font-weight: 400;\">The COIN price challenging the upper ceiling of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/bollinger-band\/\">Bollinger bands indicator<\/a>suggests the bullish momentum is aggressive.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Relative Strength Index: <\/b><span style=\"font-weight: 400;\">The daily <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/rsi-relative-strength-index\/\">rsi slope<\/a> Entering the overbought region indicates the need for a minor correction.<\/span><\/li>\n<\/ul><\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA154341\">\n<div class=\"authorBox\">\n<div class=\"author_Name\">\n<!--\n                                      \n\n<div class=\"getAuthoname\">\n                                          \n                                                                                 \n                                       <\/div>\n\n \n--><\/p>\n<p>From the past 5 years I am working in Journalism.  I follow the Blockchain &#038; Cryptocurrency from last 3 years.  I have written on a variety of different topics including fashion, beauty, entertainment, and finance.  Reach out to me at brian(at)coingape.com                         <\/p>\n<\/p><\/div>\n<div class=\"author_Image\">\n                                             <img loading=\"lazy\" alt=\"\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" data-lazy-srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\" data-lazy-src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/97819e56237550ccb85011dd23b241ea?s=400&#038;d=mm&#038;r=g 2x\" class=\"avatar avatar-200 photo\" height=\"200\" width=\"200\" decoding=\"async\"\/><\/noscript>                                       <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"TabDesCm tabcS\" id=\"TabD154341\">\n<p>    The content presented may include the personal opinion of the author and is subject to market conditions.  Do your market research before investing in cryptocurrencies.  The author or the publication does not hold any responsibility for your personal financial loss.<\/p>\n<\/div><\/div>\n<\/p><\/div>\n<p>     <!--           <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/category\/price-analysis\/\" class=\"closeArticle2 close-btn\">Close Story<\/a>--><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Published 9 minutes ago The Coinbase stock price has experienced an incredible surge over the past five weeks, displaying parabolic growth in the daily time chart. Starting from the June 6th low of $46.3, the coin&#8217;s value has skyrocketed to its current price of $114, representing an astonishing growth of 142%. This bullish rally can [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":122928,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[192,29,198,194,195,199,196,193,197,200],"class_list":["post-122927","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-blockchain-business","tag-business","tag-coins","tag-crypto-business","tag-cryptocurrency-business","tag-fiat","tag-metaverse-business","tag-nft-business","tag-token","tag-token-business"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122927","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/comments?post=122927"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122927\/revisions"}],"predecessor-version":[{"id":122929,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/122927\/revisions\/122929"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/122928"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=122927"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=122927"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=122927"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}