Bullish Pattern Causes Coinbase Stock Prices To Surpass $100

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Brian Bollinger The Crypto exchange Coinbase stock price made a huge breakout from $61.4 mark local resistance on February 15, 2018. This breakout gives buyers an opportunity to resume a bullish rally, and recover losses from the recent correction. This correction phase is part a bullish pattern called cup-and-handle. Here’s How you may trade this pattern.advertisementKey Points:The formation of the cup and handle pattern keeps the Crypto exchange Coinbase stock price on a bullish track.
Buyers could benefit from a 30% increase in COIN price sustainability if it is above $61.4
The bearish breakdown below $61.4 could be a setback for the bullish theory
Source-TradingviewThe above-mentioned bullish reversal pattern got its name for its simple structure of a cup and handle. The cup represents sustained recovery and trend reversal. The handle, which is the counter-trend move validates the price sustainability at higher levels. Trending StoriesThe Coinbase stock price saw a minor correction in February. It dropped to $55 at the bottom, but then reverted higher. This bullish reversal also broke a $61.4 local resistance, which indicated that the market sentiment was buying dips. It is possible to retest $61.4, which was broken by the bearish candle. This will provide sufficient support. If the buyers can sustain above the mentioned level, they are likely to drive the stock to $81.85 neckline resistance. AdvertisementEMAs: The 20-day EMA movement around $61.4 increases the level’s support strength. Crypto Exchange Coinbase Stock Prices Intraday LevelsSpot Rate: $61.89
Trend: Bearish
Medium Volatility
Resistance levels: $81 and $116
Support levels: $61.4 and $48
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