Watch These Coinbase Price Levels as Stock Rallies to Start 2025
Main points
- Coinbase shares are off to a strong start to the year, as the cryptocurrency exchange continues to benefit from optimism that the incoming Trump administration and a crypto-friendly Congress will support policies that benefit the asset class.
- After hitting a three-year high in early December, the stock has given back about half of its post-election gains and is trading roughly between its 200- and 50-day moving averages.
- Investors should keep an eye on key support levels near $220 and $187 on the Coinbase chart, while also keeping an eye on important resistance levels near $283 and $342.
Coin Library (coin) following the most recent retracement.
since Donald Trump wins the election The stock rose more than 30% in early November on optimism that his administration and a crypto-friendly Republican Congress would position the United States as a global cryptocurrency leader and create a more favorable regulatory environment for exchanges like Coinbase.
looking for Frontthe company is also well-positioned to benefit from increased Bitcoin trading activity (Bitcoin USD) still hovering below the $100,000 level and other large-cap stocks Altcoinssuch as Ethereum (Ethereum USD) and Solana (SOLUSD), performing strongly since the election.
Coinbase shares were up 2% in early trading on Friday to around $263, after rising more than 3% yesterday.
Below, we take a closer look at the Coinbase chart and apply technical analysis Identify important price levels to watch.
Retreat after hitting three-year high
In early December, Coinbase shares hit a three-year high shortly after the 50-day moving average (MA) broke above the 50-day moving average (MA). 200-day moving average Form a bullish golden cross Signal. Since then, however, the stock has retraced about half of its post-election gains, with prices trading roughly between its 200-day and 50-day moving averages.
Although Relative Strength Index (RSI) A reading around 40 confirms weak price momentum, and the stock has shown a historical tendency to rebound when the indicator drops to that level. Also, below average roll Along with the recent decline, there is a lack of confidence to sell.
Let’s identify the important support and resistance Coinbase charts levels investors may be watching early in the first quarter.
Key support levels worth paying attention to
The first level of support to watch is around $220, just below the 200-day moving average. Investors may look for entry point This area is close to the area connecting multiple trend lines. crests and troughs on the March-October chart.
this bulls Failure to hold this level could see shares drop to around $187, a level on the chart that could attract support near December 2023 high swingwhich also closely correlates with a series of similar price points from February to November last year.
Important resistance levels to track
If shares move higher this month, investors should first focus on the $283 level, an area on the chart that could see selling pressure near the March highs, the mid-November retracement lows, and the nearby 50-day moving average.
If there is a decisive close above this level, the price could rise to around $342. Traders who have recently purchased stocks pull back may expect Lock in profits A series near this location merge It’s just below the stock’s December high.
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As of the date of this writing, the author did not own any of the securities mentioned.