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  • Coinbase Plunges After Downgrade, But Here's Why The Progression Higher Remains In Play

    Coinbase Global Inc (NASDAQ: COIN) was trading almost 10% lower on Monday after receiving a downgrade from Goldman Sachs. Goldman Sachs analyst Will Nance downgraded the stock from Neutral to Sell rating and lowered the price target from $70 to $45. The downgrade is the second bearish analyst coverage the cryptocurrency platform has received recently. On June 23, Redburn Partners analyst Nicholas Watts downgraded Coinbase from a Buy rating to a Neutral rating. Coinbase’s bearish reaction to the additional downgrade didn’t negate the uptrend the stock has been trading in since June 13. An uptrend occurs when a stock consistently makes a series of higher highs and higher lows on the chart. The higher highs indicate the bulls are in control while the intermittent higher lows indicate consolidation periods. Traders can use moving averages to help identify an uptrend, with rising lower time frame moving averages (such as the eight-day or 21-day exponential moving averages) indicating the stock is in a steep shorter-term uptrend. Rising longer-term moving averages (such as the 200-day simple moving average) indicate a long-term uptrend. A stock often signals when the higher high is in by printing a reversal candlestick such as a doji, bearish engulfing or hanging man candlestick. Likewise, the higher low could be signaled when a doji, morning star or hammer candlestick is printed. Moreover, the higher highs and higher lows often take place at resistance and support levels. In an uptrend the "trend is your friend" until it’s not and there are ways for both bullish and bearish traders to participate in the stock: Bullish traders who are already holding a position in a stock can feel confident the uptrend will continue unless the stock makes a lower low. Traders looking to take a position in a stock trading in an uptrend can usually find the safest entry on the higher low. Bearish traders can enter the trade on the higher high and exit on the pullback. These traders can also enter when the uptrend breaks and the stock makes a lower low indicating a reversal into a downtrend may be in the cards. Want direct analysis? Find me in the BZ Pro lounge! Click here for a free trial. The Coinbase Chart: The most recent higher high in Coinbase’s uptrend was printed on Friday at $64.09 and the most recent confirmed higher low was formed at the $51.57 mark on June 22. As long as Coinbase remains above the most recent higher low on this current retracement, the uptrend will remain intact. Coinbase’s uptrend is taking place within a rising channel pattern, between two parallel lines. The pattern is considered to be bullish until a stock breaks down from the lower ascending trendline of the channel on higher-than-average volume on small timeframes. On Monday, Coinbase tested the lower trendline as support and wicked up from the area, which suggests the pattern is being recognized by the algorithms. Coinbase was trading lower on Monday on lower-than-average volume, which indicates consolidation as opposed to fear selling. At press time, about 8.3 million shares of Coinbase had exchanged hands compared to the 10-day average of 17.47 million. Bullish traders want to see Coinbase continue to hold above the lower trendline of the pattern and then for the stock to bounce up toward the upper trendline. If Coinbase can break up bullishly from the rising channel over the coming days, it will regain support at the eight-day and 21-day exponential moving averages, which would give bullish traders more confidence going forward. Bearish traders want to see big bearish volume come in and break Coinbase down from the rising channel, which could force the stock to retest support at the all-time low of $40.83. Coinbase has resistance above at $60.99 and $83.32 and under the all-time low, there is no further support in the form of price history. See Also: Tesla To $1,150? Here Are The Biggest Price Target Changes For Monday Photo: Iryna Budanova via Shutterstock © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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  • RT progo_axie: 1/ @BigYakAxieClub Collector's Cup recap and stats by Progo is up! Thanks @balthuzite for the data! @AxieInfinity Origin is fun! @EsportsAxie [dashred.substack.com]

    RT progo_axie: 1/ @BigYakAxieClub Collector's Cup recap and stats by Progo is up! Thanks @balthuzite for the data! @AxieInfinity Origin is fun! @EsportsAxie https://dashred.substack.com/p/inside-the-collectors-cup-day-2?sd=pf

  • ETH’s Trade Volume Dies Down as It Approaches the $1,300 Mark 

    ETH’s price dropped by 1.17% in the last 24 hours. Trading volume for the coin dies down as it approaches ...Read More...

  • The Ringing Of The Presale Bell Has Begun. Join Gnox (GNOX) Presale while Bitcoin (BTC) struggles

    The crypto world is volatile, and this has been especially evident in the past few months. At the end of the second quarter of 2022, many investors find it challenging to understand which direction the market is headed Continue reading The Ringing Of The Presale Bell Has Begun. Join Gnox (GNOX) Presale while Bitcoin (BTC) struggles at DailyCoin.com.

  • House Appropriations Committee Asks SEC To Provide Crypto Clarity

    The new House Appropriations Committee approved a funding bill for the year 2023. The committee also spoke about funding for ...Read More...

  • Cryptocurrency NEAR Protocol Falls More Than 9% In 24 hours

    NEAR Protocol's (CRYPTO: NEAR) price has decreased 9.18% over the past 24 hours to $3.75. This is contrary to the coins performance over the past week where it has experienced an up-trend of 13.0%, moving from $3.41 to its current price. The chart below compares the price movement and volatility for NEAR Protocol over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility. The trading volume for the coin has decreased 14.0% over the past week, while the overall circulating supply of the coin has increased 0.37% to over 722.06 million. This puts its current circulating supply at an estimated 72.21% of its max supply, which is 1.00 billion. The current market cap ranking for NEAR is #26 at $2.71 billion. Powered by CoinGecko API This article was generated by Benzinga's automated content engine and reviewed by an editor. © 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

  • RT AxieArtGallery: Axie Infinity Monday Selfie😍 Contest alert!!🚨🚨🚨🚨 Make a Twitter banner + profile pic for @AxieArtGallery account - 20 AXS for the 1st winner 🏆 - 3 AXS each for the 2nd and the 3rd one You can either use #axiebanner or send your entry to [email protected] [twitter.com] [pbs.twimg.com]

    RT AxieArtGallery: Axie Infinity Monday Selfie😍 Contest alert!!🚨🚨🚨🚨 Make a Twitter banner + profile pic for @AxieArtGallery account - 20 AXS for the 1st winner 🏆 - 3 AXS each for the 2nd and the 3rd one You can either use #axiebanner or send your entry to [email protected] https://twitter.com/AxieArtGallery/status/1541421508345610240/photo/1 https://pbs.twimg.com/media/FWQ0C4oXwAAqM3Y.jpg:large

  • Latest Vasil Upgrade Milestone Has Little Effect on ADA’s Price

    Input Output Hong Kong (IOHK) has announced a new developmental milestone. In addition, IOHK has confirmed that Cardano has completed ...Read More...

  • Hoge Finance Price Prediction – Will HOGE Hit $0.0.00014 in 2022?

    Bullish HOGE price prediction is $0.000136. HOGE price might also reach $0.00014 soon. HOGE bearish market price prediction for 2022 ...Read More...

  • SHIB Passes TRX in Market Cap As Price Surges Over 40% in 7 Days

    This morning, Shiba Inu (SHIB) was able to overtake TRON (TRX) in terms of market capitalization. SHIB’s market cap currently ...Read More...

  • Shares in Coinbase down 5% in pre-market as Goldman Sachs downgrades stock to sell

    Goldman Sachs downgrades Coinbase stock to sell as the crypto exchange prepares for tougher economic conditions. The post Shares in Coinbase down 5% in pre-market as Goldman Sachs downgrades stock to sell appeared first on The Block.