Coinbase shares jumped to a three-year high Monday, with a 20% gain during the session and an additional 3% in after-hours trading, closing near $333. The surge aligns with Bitcoin's record above $88,000, boosting trading volumes and Coinbase's revenue through transaction fees. Technical analysis shows a bullish trend for Coinbase, recently breaking out from a seven-month descending channel. Last week's breakout in high volume signals strong investor confidence. Investors should monitor Coinbase’s resistance levels at $369, $430, and $695 while keeping an eye on a key support level around $220. The influence of Bitcoin as an institutional asset class is expected to be thoroughly explored at Benzinga’s upcoming Future of Digital Assets event on Nov. 19. Find out more on benzinga.com.
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00:00It's Benzinga bringing Wall Street to Main Street.
00:02Coinbase shares jumped to a three-year high Monday with a 20% gain during the session
00:06and an additional 3% in after-hours trading, closing near $333.
00:11The surge aligns with Bitcoin's record above $88,000, boosting trading volumes and Coinbase's
00:17revenues through transaction fees. Tentacle Analyst shows a bullish trend for Coinbase,
00:22recently breaking out from a seven-month descending channel.
00:25Last week's breakout and high volume signals strong investor confidence.
00:29Investors should monitor Coinbase's resistance levels at $369, $430 and $695 while keeping an
00:38eye on key support level around $220. The influence of Bitcoin as an institutional
00:44asset class is expected to be thoroughly explored at Benzinga's upcoming Future
00:48of Digital Assets event on November 19th. To find out more, go to Benzinga.com.
00:53For all things money, visit Benzinga.com slash GSTV.