Coinbase Global Inc (COIN)

With 10.92 million shares changed hands, the volume of the stock remained heavier than its average volume of 8.86 million shares. During the session, the Financial Data & Stock Exchanges company that operates in wider Financial sector, reached to the highest price of $225.53 whereas the lowest price it dropped to was $218.8.

Coinbase Global (NASDAQ:COIN) stock was down on Friday morning as it continued to trade in a narrow range. The stock dropped 1.6% in the past week and closed at $220.8.

Coinbase stock price now trades at a trailing 12-month multiple of 44.4X. But what do analysts think about COIN stock from a technical perspective?

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Coinbase stock technical analysis

Coinbase stock price closed the last trading session at 220.8, down 1.61%. From a technical perspective, the stock seems to have stalled in a narrow trading range after a strong rally earlier this year.

COIN stock price is now trading below the 50-day moving average but above the 200-day moving average, indicating a short-term downtrend but long-term uptrend. The stock price is also approaching a key resistance level at 225.53.

If Coinbase stock price manages to close above this resistance level, it could trigger a further rally towards the next resistance level at 250. On the downside, support is seen at 218.8.

Coinbase stock price technical summary

Stock performance is one of the metrics used by investors to decide whether they will make a profit from a stock. Coinbase Global (NASDAQ:COIN) stock price performance was down-trending over the past week, with a drop of -1.61%, but this was down by -6.09% over a month. Three-month performance dropped to -16.18% while six-month performance rose 19.97%. The stock gained 214.11% in the past year, while it has gained 27.78% so far this year.

Coinbase Global stock price performance over the past week, month, three months, six months, year, and year-to-date is shown in the chart below.