{"id":223100,"date":"2024-01-03T23:25:57","date_gmt":"2024-01-03T17:55:57","guid":{"rendered":"https:\/\/dripp.zone\/news\/healthy-retracement-sets-coin-to-surpass-200-crypto-news\/"},"modified":"2024-01-03T23:26:00","modified_gmt":"2024-01-03T17:56:00","slug":"healthy-retracement-sets-coin-to-surpass-200-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/healthy-retracement-sets-coin-to-surpass-200-crypto-news\/","title":{"rendered":"Healthy Retracement Sets $COIN to Surpass $200 &#8211; Crypto News"},"content":{"rendered":"<p><\/p>\n<div id=\"post-172142\">\n<p>\nCoinbase Stock Price Prediction: Amid broader market correction, the COIN Share price is likely to plunge another 4%, but there is a catch\t\t\t\t<\/p>\n<p><!--\n     \n\n<div class=\"marketThumbs\">\n             <noscript><img width=\"1200\" height=\"578\" src=\"https:\/\/coingape.com\/wp-content\/uploads\/2024\/01\/grpoFKXF-e1704304189499.png\" class=\"attachment-post-thumbnail size-post-thumbnail wp-post-image\" alt=\"Coinbase Stock Price Prediction\" decoding=\"async\" fetchpriority=\"high\" \/><\/noscript><\/div>\n\n\n--><\/p>\n<p class=\"MarketsUp f-14 d-block\">  Published 5 seconds ago <\/p>\n<div class=\"Atcs\">\n<p><span style=\"font-weight: 400;\">Coinbase Stock Price Prediction: Amid broader market trends, the S&#038;P 500 index saw a 0.37% drop Wednesday morning ahead of the Federal Reserve\u2019s policy meeting minutes, accompanied by similar declines in the Dow Jones Industrial Average (-0.74%) and Nasdaq Composite (-0.95%). In this context, the Coinbase (COIN) share price continued its <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/breaking-ark-invest-sells-coinbase-coin-shares-ahead-spot-bitcoin-etf-cathie-wood-bearish\/\">correction phase<\/a>, currently trading at $153. Yet this movement towards crucial support suggests a potential for buyer intervention, possibly signaling a turnaround and resumption of the stock\u2019s recovery.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<h2><strong>Can $140 Support Trigger a New Recovery<\/strong><\/h2>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The current correction could assist the Coinbase Stock price to revive the exhausted bullish momentum.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Accumulation of the technical level at $140 creates a strong demand zone<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">The positive alignment within daily EMAs(20, 50, 100, and 200) reflects the overall trend remains bullish<\/span><\/li>\n<\/ul>\n<figure style=\"width: 1946px\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" src=\"data:image\/svg+xml,%3Csvg%20xmlns=\" http:=\"\" alt=\"Coinbase Stock Price Prediction\" width=\"1946\" height=\"937\" data-lazy-src=\"https:\/\/s3.tradingview.com\/snapshots\/g\/grpoFKXF.png\"\/><noscript><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/s3.tradingview.com\/snapshots\/g\/grpoFKXF.png\" alt=\"Coinbase Stock Price Prediction\" width=\"1946\" height=\"937\"\/><\/noscript><figcaption class=\"wp-caption-text\">Coinbase Stock Price Prediction| TradingView Chart<\/figcaption><\/figure>\n<p><span style=\"font-weight: 400;\">The recent trajectory of the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/crypto-stocks\/coin\/\">Coinbase stock price<\/a> reflects a significant market recovery, beginning with a sharp rebound in late October from a local support level of $70.4. This upturn propelled the stock by 165% over two months, peaking at $187.39. However, a recent pullback from this peak led to an 18.2% drop in the asset\u2019s value over the last three trading days.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<p><span style=\"font-weight: 400;\">Analyzing the daily timeframe chart reveals that this correction may approach the ascending trendline of a rising channel pattern, potentially serving as a support level. Notably, this trendline support around the $140 mark aligns with the 38.2% <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/glossary\/fibonacci-retracement\/\">Fibonacci retracement level<\/a>, forming a significant convergence point that could attract buyers. Such a retracement is generally seen as beneficial for a sustained bull run, providing investors a momentary pause to gather strength.<\/span><\/p>\n<blockquote>\n<p><span style=\"font-weight: 400;\">If the stock maintains its position above this key support area, it could enable buyers to regain control and continue the recovery trend. In an optimistic scenario, this post-correction phase might propel the Coinbase share price towards a target of $207.5, with a subsequent aim of reaching $282.<\/span><\/p>\n<p><!-- WP QUADS Content Ad Plugin v. 2.0.72.1 --><\/p>\n<\/blockquote>\n<h2><b>Is Coinbase Stock Price at Risk of Further Correction<\/b><\/h2>\n<p><span style=\"font-weight: 400;\">While the overall trend for Coinbase\u2019s share price remains bullish, a sustained decline below the trendline could signal the onset of a more substantial correction. In such a case, the share price might decline by 11.8% from its current trading level of $149, potentially retesting support levels at $128 and then $114, which correspond to the 50% and 61.8% Fibonacci retracement levels, respectively.<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Average Directional Index: <\/b><span style=\"font-weight: 400;\">The daily ADX slope at 53% suggests the buyers are likely exhausted from the recent rally.<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><b>Exponential moving average: <\/b><span style=\"font-weight: 400;\">the rising 50-<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/coingape.com\/education\/exponential-moving-average-how-to-leverage-it-in-crypto-market\/\">EMA<\/a> slope wavering close to the $140 level could offer additional support to market buyers.<\/span><\/li>\n<\/ul>\n<h3>Related Article:<\/h3>\n<p><noscript><link rel=\"stylesheet\" id=\"quads-style-css-css\" 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height=\"18\"\/><\/noscript><br \/>\n<\/a><br \/>\n                    <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.facebook.com\/sharer\/sharer.php?u=https:\/\/coingape.com\/markets\/coinbase-stock-price-prediction-healthy-retracement-sets-coin-to-200\/\" class=\"TeleSFb\"><i class=\"fa fa-facebook\"\/><\/a>\n                    <\/div>\n<\/p><\/div>\n<\/div>\n<div class=\"TabDicA\">\n<div class=\"TBAcon \">\n<div class=\"authorFlip tabcS\" id=\"TabA172142\">\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>Sahil is a dedicated full-time trader with over three years of experience in the financial markets. Armed with a strong grasp of technical analysis, he keeps a vigilant eye on the daily price movements of top assets and indices. Drawn by his fascination with financial instruments, Sahil enthusiastically embraced the emerging realm of cryptocurrency, where he continues to explore opportunities driven by his passion for trading                         <\/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\/a533fdcf650a1d3d3b6a452bcef2d18a?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\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\"\/><noscript><img loading=\"lazy\" alt=\"\" src=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?s=200&#038;d=mm&#038;r=g\" srcset=\"https:\/\/secure.gravatar.com\/avatar\/a533fdcf650a1d3d3b6a452bcef2d18a?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=\"TabD172142\">\n<p>  The presented content may include the personal opinion of the author and is subject to market condition. 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<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Coinbase Stock Price Prediction: Amid broader market correction, the COIN Share price is likely to plunge another 4%, but there is a catch Published 5 seconds ago Coinbase Stock Price Prediction: Amid broader market trends, the S&#038;P 500 index saw a 0.37% drop Wednesday morning ahead of the Federal Reserve\u2019s policy meeting minutes, accompanied by [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":223101,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[188,183,185,186,187,184,189,150,182,190],"class_list":["post-223100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-blockchain-tech","tag-blockchain-technology","tag-crypto-technology","tag-cryptocurrency-technology","tag-metaverse-technology","tag-nft-technology","tag-soul-bound-token","tag-tech","tag-technology","tag-token-technology"],"_links":{"self":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/223100","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=223100"}],"version-history":[{"count":1,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/223100\/revisions"}],"predecessor-version":[{"id":223102,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/posts\/223100\/revisions\/223102"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media\/223101"}],"wp:attachment":[{"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/media?parent=223100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/categories?post=223100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dripp.zone\/news\/wp-json\/wp\/v2\/tags?post=223100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}