COIN cup and handle
Technical Outlook:
Bullish Setup: A cup and handle pattern is forming, suggesting potential for an upward breakout.
Key Levels: Watch for a breakout above the handle with strong volume. Support is solid at the 50-day moving average.
RSI: Still below overbought, meaning there’s room for upward movement.
Fundamental Snapshot:
Strong Q2 Earnings: Revenue jumped to $1.38 billion, largely due to increased trading volumes and the approval of Bitcoin and Ethereum ETFs (Crowdfund Insider).
Regulatory Risks: Ongoing SEC battles could impact growth, but recent ETF approvals are a positive sign (Crowdfund Insider).
COIN is closely correlated with Bitcoin so keep an eye on that as well.
If COIN breaks resistance, it could see strong gains, but keep an eye on regulatory news.
Bullish Setup: A cup and handle pattern is forming, suggesting potential for an upward breakout.
Key Levels: Watch for a breakout above the handle with strong volume. Support is solid at the 50-day moving average.
RSI: Still below overbought, meaning there’s room for upward movement.
Fundamental Snapshot:
Strong Q2 Earnings: Revenue jumped to $1.38 billion, largely due to increased trading volumes and the approval of Bitcoin and Ethereum ETFs (Crowdfund Insider).
Regulatory Risks: Ongoing SEC battles could impact growth, but recent ETF approvals are a positive sign (Crowdfund Insider).
COIN is closely correlated with Bitcoin so keep an eye on that as well.
If COIN breaks resistance, it could see strong gains, but keep an eye on regulatory news.
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