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06-26

“Coinbase (COIN) at $360: A Bullish Case Backed by Bitcoin’s Momentum”

As of 10:49 AM NZST on June 26, 2025, Coinbase Global Inc. (COIN) has surged to a 52-week high of $360, following a 12% rally on June 25, as highlighted in recent X posts. This breakout, which set a new high on June 25, coincides with a robust uptrend in the cryptocurrency market, particularly with Bitcoin showing renewed strength. While specific intraday data (e.g., volume, technical indicators) is unavailable from the provided post, the price action and market context suggest a compelling opportunity. Let’s analyze this with precision, leveraging the latest insights.

The rally’s foundation lies in Bitcoin’s performance. Based on recent X posts, Bitcoin was priced at $105,005.90 on June 24 at 03:19 UTC (15:19 NZST), with trends indicating a climb toward $105,500-$106,000 by June 26, driven by increased institutional adoption and retail interest. Coinbase, as the leading U.S. crypto exchange, directly benefits from this momentum, with trading volumes likely spiking alongside Bitcoin’s ascent. Regulatory clarity in the U.S., such as potential advancements in crypto custody rules, may further amplify this trend, though no specific regulatory updates are confirmed in the data provided.

Should investors chase the rally or take profits? The 12% gain on June 25 signals strong buying pressure, potentially pushing COIN toward $380-$400 in the near term if Bitcoin sustains its upward trajectory. Historical correlation suggests COIN often tracks crypto market cycles, and with Bitcoin nearing $106,000, the tailwind is significant. However, without volume data to confirm breakout strength (typically requiring 1.5x the 20-day average), a pullback to $340-$350—near the estimated 20-day moving average—remains a possibility within 5-10 trading days if momentum wanes.

I am moderately bullish, supported by Bitcoin’s momentum and Coinbase’s market leadership. The stock’s rise to $360 reflects a healthy sector upswing, and a near-term target of $380 is achievable if Bitcoin holds above $105,500. A longer-term target of $400 by mid-July is plausible, contingent on sustained crypto market growth and no major regulatory setbacks. Conversely, a dip to $340 could offer a strategic entry point, aligning with technical support levels.

For traders, adopt a disciplined approach: enter long positions with a stop-loss below $340, and consider scaling in on a pullback to $345-$350. Monitor Bitcoin’s price closely—sustained trading above $105,500 with above-average volume would reinforce the bullish case. Verify real-time data on platforms like Coinbase or CoinMarketCap, as the absence of current volume and RSI figures limits technical precision. COIN at $360 is a promising play, but data-driven timing is essential to maximize returns.

Coinbase $2.3B Convertible Note: Smart Move or Red Flag?
Coinbase Global was down 6.3%. The crypto exchange unveiled a convertible note offering worth up to $2.3 billion on Tuesday. Coinbase said it plans to offer $1 billion in convertible senior notes due in 2029, and $1 billion due in 2032 in a private offering. The company also expects to grant options to purchase up to an additional $150 million of each set of notes. -------- How do you view a company issuing new shares at high levels? Is it a case of cashing out on retail investors, or simply a good time to raise funds? At what price would it be a good opportunity to buy the dip?
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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