Coinbase and Marathon. Instruments of the Week (18-22 March)

Coinbase Global Inc.

Coinbase (#COIN) saw its revenue rise to $773 million in Q1 2024, marking a 23% increase from the previous quarter and surpassing analyst expectations. This uptick is attributed to the growing interest in cryptocurrencies, further boosted by the US SEC's approval of bitcoin ETFs, which played a significant role in Coinbase's first quarterly profit since 2021. Anticipating the future, Coinbase projects strong performance in its subscription and services sector, with expected revenue significantly above previous estimates.

On the Daily Timeframe, COIN is in an uptrend, but the price has bounced off resistance and is now moving toward the 61.8 Fibonacci level. Indicators give opposite signals: RSI is almost 75.0 and is signaling overbought, while moving averages only give bullish signals.

If the price bounces from the support at 240.00, the growth is possible up to 270.00, and with further growth, it will rush to the resistance at 300.00.
If the price breaks through 61.8 Fibonacci, it will fall to 190.00.

Marathon Digital Holdings

Marathon Digital Holdings showcased significant growth with a 121.1% increase in Q4 EPS and a 452% rise in revenue. The company aims to expand its hash rate significantly by the end of 2025. Despite challenges like high production costs and the impact of Bitcoin halving in 2024, Marathon's strategic acquisitions and expansions underpin a bullish sentiment among investors. However, bearish perspectives caution about potential earnings shifts due to these challenges.

MARA is moving in an ascending channel, and having bounced from 38.2 Fibonacci, the price rushed downwards, having also recently broken through the 23.6 Fibonacci level. The price has almost reached the lower trend line, creating two possible scenarios.

If MARA bounces off the lower trend line, it will rally to the resistance at 22.00 and recover to 26.00 on further upside.
A fall below the 19.00 support and a trendline breakdown would open the way for a fall to 15.00.

prueba ahora

bolsa de valores

crecimiento

opera ideas

inversión

precios actuales

Author: Egor Schmidt

Más de este autor

Similar

01.04.2022 20:14 ¡Las Mejores Acciones Para Comprar en Abril!

A medida que se acerca el mes de Abril, los inversores buscan buenas oportunidades en el mercado de valores. Hay dos industrias en auge que lucen positivas para el próximo período; la de vehículos eléctricos (EV) y las acciones bancarias.

21.03.2022 11:21 La Fed está subiendo las tasas pero las acciones están repuntando... ¿Qué está sucediendo?

La era del dinero barato por el COVID-19 ha terminado. ¿Quién teme al ciclo de ajuste de la Fed? Aparentemente, no los inversionistas del mercado de valores.

28.02.2022 11:59 ¿Por qué se recuperaron los mercados estadounidenses?

No hay nada nuevo en los mercados que presencian fuertes caídas y volatilidad cuando ocurren eventos geopolíticos. La reacción inicial e inmediata a estos eventos suele ser la más dramática.

Últimas noticias

28.03.2024 05:51 EURUSD: Buscando liquidez en zonas de venta de la semana. Niveles clave de entradas y salidas

Escenario bajista: Ventas por debajo de 1.0820 / 1.0841... Escenario alcista: Compras sobre 1.0827...

28.03.2024 05:12 XAUUSD: En zona de oferta. ¿Hasta donde considerar el próximo retroceso?

Escenario bajista: Ventas por debajo de 2200 / 2194... Escenario alcista más próximo: Compras sobre 2197... Escenario alcista tras retroceso: Considera compras en torno a cada zona de demanda...