Coinbase stock soars 16%: Can the rally continue this week?

Retail Investors Stand Their Ground

Against all expectations, the recent weakness in the crypto market hasn’t scared off Coinbase users. On the contrary, it has served as a catalyst. Brian Armstrong, the platform’s CEO, confirmed that retail investors have massively bought the dip, showing confidence in the face of uncertainty.

This strategic accumulation, primarily concentrated on Bitcoin (BTC) and Ethereum (ETH), has reassured Wall Street about the health of the exchange’s transaction volumes. As a result, COIN stock opened with a bullish gap and never looked back, closing at $164.32, representing a gain of more than $23 in a single session.

Internal Coinbase data reveals that the majority of client portfolios saw their holdings increase or remain stable between December and February, defying the short-term bearish trend. This fundamental support is a key indicator: when retail investors accumulate while prices fall, a reversal is often near.

Technical Analysis: Can COIN Break Through the $186 Resistance?

From a technical perspective, COIN’s price structure is becoming particularly interesting. The stock is currently testing major Fibonacci retracement zones. According to analyst Ace, as long as the price maintains above the critical support of $125.81, the long-term bullish structure remains intact.

Moreover, the stock has regained its trendline at $162 after taking liquidity from the low at $142. This liquidation of long positions followed by a violent bullish reversal is a positive sign.

However, to confirm this breakout, the bulls will need to overcome an immediate resistance located at $186.19. If this level gives way under buying pressure, the path would be clear to target much more ambitious objectives. Bernstein analysts, for example, already anticipate a move toward $212, with an optimistic scenario targeting a new ATH (all-time high) beyond $500 in the medium term.

Conversely, a failure below $186 could lead to consolidation or a retracement toward the $140 zone. Momentum indicators will therefore need to be watched very closely in the next 24 hours to validate the continuation of this impulsive movement.

How High Can Coinbase Stock Climb?

The analyst consensus remains predominantly bullish, although some targets have been adjusted. With targets ranging between $148 for the most cautious and $350 for the most optimistic, volatility promises to be on the agenda. With the correlation to Bitcoin remaining strong, BTC’s ability to resume its northward trajectory will be decisive for COIN.

If the crypto market confirms its rebound, the next major resistance at $279.10 could be reached faster than expected. The question now is whether institutional investors will follow retail investors’ lead to support this momentum.

Take advantage of the rally and buy your COIN shares in just a few clicks and get a $1000 bonus to test the free bots on Pionex:

Related Articles:

• Rumor: Is Michael Saylor swapping Bitcoin for XRP?
• Whale alert: Bitcoin OG moves $543 million in ETH to Binance, Is a crash coming?
• Zcash (ZEC) soars to $300: Is the Zcash bull run back on?