Goldman Sachs Upgrades Coinbase to Buy with $303 Price Target
- Rating Upgrade: Goldman Sachs upgraded Coinbase's stock from 'Neutral' to 'Buy', resulting in an 8% increase in stock price, closing at approximately $254.92, which demonstrates market confidence in the company's growth potential.
- Price Target Setting: The new price target of $303 reflects Goldman Sachs' optimistic outlook on Coinbase's future performance in the cryptocurrency sector, particularly in the context of regulatory support and market developments.
- Market Reaction: Investors reacted positively to the upgrade, with an 8% rally in Coinbase's stock not only showcasing trust in the revised analysis but also reflecting broader enthusiasm in the crypto market, potentially aiding retail trading recovery.
- Future Outlook: Goldman Sachs anticipates growth for Coinbase by 2026, especially in cryptocurrency custody and staking services, aligning with historical trends and further enhancing the market's long-term investment appeal in the company.
Get Real-Time Alerts for Any Crypto Movement
Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
About the author
