Coinbase Global Inc (NASDAQ:COIN) shares are trading higher Tuesday in sympathy with Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) as cryptocurrency markets push higher.
Coinbase’s stock looks to be trading within a pattern and could be ready to break out in the coming weeks.
Coinbase is trading higher up 8.87% at $286.51 Tuesday afternoon at publication.
Bullish traders are looking to see the stock continue to trade within the pattern and go on to break above the $300 resistance. After a break above resistance, bulls are looking for a period of consolidation to show the stock is able to hold its gains, meaning it may be ready to push even higher in the future.
Bearish traders are looking to see the stock fall below the higher low trendline and for the stock to begin to hold this trendline as an area of resistance. This may show the stock is ready for a strong bearish move.
Photo: Courtesy Coinbase
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