COINBASE GLOBAL INC. - 1H - Technical analysis published on 09/12/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 81.82 USD
My targets
86.50 USD (+3.73%)
88.99 USD (+6.72%)
My analysis
The bullish trend is currently very strong on COINBASE GLOBAL INC.. As long as the price remains above the support at 81.82 USD, you could try to benefit from the boom. The first bullish objective is located at 86.50 USD. The bullish momentum would be boosted by a break in this resistance. Buyers would then use the next resistance located at 88.99 USD as an objective. Crossing it would then enable buyers to target 92.69 USD. Be careful, given the powerful bullish rally underway, excesses could lead to a possible correction in the short term. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
8.9
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Additional analysis
Quotes
The COINBASE GLOBAL INC. price is 83.39 USD. On the day, this instrument gained +3.44% and was traded between 81.80 USD and 86.36 USD over the period. The price is currently at +1.94% from its lowest and -3.44% from its highest.81.80
86.36
83.39
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of COINBASE GLOBAL INC. indicates that the overall trend is strongly bullish. 92.86% of the signals given by moving averages are bullish. This strongly bullish trend is supported by the strong bullish signals given by short-term moving averages. The Central Indicators scanner detects bullish signals on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : 1 hour
Moving Average bullish crossovers : AMA20 & AMA50
Type : Bullish
Timeframe : 1 hour
An assessment of technical indicators shows a strong bullish signal.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
An analysis of the price chart with the Central Patterns scanner (detector of chart patterns and resistances and supports) shows a result that can have an impact on the price change:
Resistance of channel is broken
Type : Bullish
Timeframe : 1 hour
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 75.47 | 78.91 | 81.82 | 83.39 | 86.50 | 88.99 | 92.69 |
| Change (%) | -9.50% | -5.37% | -1.88% | - | +3.73% | +6.72% | +11.15% |
| Change | -7.92 | -4.48 | -1.57 | - | +3.11 | +5.60 | +9.30 |
| Level | Minor | Minor | Major | - | Intermediate | Minor | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 72.46 | 75.13 | 77.87 | 80.54 | 83.28 | 85.95 | 88.69 |
| Camarilla | 79.13 | 79.63 | 80.12 | 80.62 | 81.12 | 81.61 | 82.11 |
| Woodie | 72.51 | 75.15 | 77.92 | 80.56 | 83.33 | 85.97 | 88.74 |
| Fibonacci | 75.13 | 77.19 | 78.47 | 80.54 | 82.60 | 83.88 | 85.95 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 70.24 | 72.85 | 77.47 | 80.08 | 84.70 | 87.31 | 91.93 |
| Camarilla | 80.10 | 80.77 | 81.43 | 82.09 | 82.75 | 83.42 | 84.08 |
| Woodie | 71.25 | 73.35 | 78.48 | 80.58 | 85.71 | 87.81 | 92.94 |
| Fibonacci | 72.85 | 75.61 | 77.32 | 80.08 | 82.84 | 84.55 | 87.31 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 45.30 | 58.70 | 69.15 | 82.55 | 93.00 | 106.40 | 116.85 |
| Camarilla | 73.04 | 75.23 | 77.41 | 79.60 | 81.79 | 83.97 | 86.16 |
| Woodie | 43.83 | 57.96 | 67.68 | 81.81 | 91.53 | 105.66 | 115.38 |
| Fibonacci | 58.70 | 67.81 | 73.44 | 82.55 | 91.66 | 97.29 | 106.40 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 64.44 | |
| MACD (12,26,9): | 0.9200 | |
| Directional Movement: | 18.72 | |
| AROON (14): | 50.00 | |
| DEMA (21): | 82.47 | |
| Parabolic SAR (0,02-0,02-0,2): | 77.95 | |
| Elder Ray (13): | 3.57 | |
| Super Trend (3,10): | 79.36 | |
| Zig ZAG (10): | 85.65 | |
| VORTEX (21): | 1.1900 | |
| Stochastique (14,3,5): | 72.36 | |
| TEMA (21): | 82.58 | |
| Williams %R (14): | -16.86 | |
| Chande Momentum Oscillator (20): | 1.99 | |
| Repulse (5,40,3): | 1.6600 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1100 | |
| Courbe Coppock: | 2.72 |
| MA7: | 80.25 | |
| MA20: | 78.44 | |
| MA50: | 86.44 | |
| MA100: | 72.31 | |
| MAexp7: | 82.21 | |
| MAexp20: | 81.27 | |
| MAexp50: | 80.12 | |
| MAexp100: | 79.99 | |
| Price / MA7: | +3.91% | |
| Price / MA20: | +6.31% | |
| Price / MA50: | -3.53% | |
| Price / MA100: | +15.32% | |
| Price / MAexp7: | +1.44% | |
| Price / MAexp20: | +2.61% | |
| Price / MAexp50: | +4.08% | |
| Price / MAexp100: | +4.25% |
Quotes :
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15 min delayed data
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NASDAQ Stocks
News
Don't forget to follow the news on COINBASE GLOBAL INC.. At the time of publication of this analysis, the latest news was as follows:
- Coinbase Announces Early Tender Results and an Increase in Consideration in Connection with Cash Tender Offer for Up to $150.0 Million Aggregate Purchase Price of its Outstanding 3.625% Senior Notes Due 2031
- Coinbase Accelerates International Expansion with Official Launch in Canada
- Coinbase Commences Cash Tender Offer for Up to $150.0 Million Aggregate Purchase Price of its Outstanding 3.625% Senior Notes Due 2031
- Coinbase Releases Second Quarter 2023 Shareholder Letter
- Coinbase to Participate in the Oppenheimer 26th Annual Technology, Internet & Communications Conference
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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