TLDR
- Coinbase stock rocketed 19% to $165.12 Friday with analysts citing historical support patterns that preceded previous rallies in 2024 and 2025.
- Binance set to launch COINUSDT perpetual futures Feb. 9 as COIN rebounds from near 52-week low of $142.58.
- CEO Brian Armstrong criticizes state regulators as Coinbase fights Nevada Gaming Control Board over event contract jurisdiction.
- Analysts forecast $1.86 billion Q4 revenue for Feb. 12 earnings, down 18% from prior year as crypto markets shed $500 billion.
- After-hours trading shows stock at $165.80 with market cap of $44.53 billion and P/E ratio at 14.29.
Coinbase stock delivered a powerful rally Friday, jumping $13.00 or 19% to finish at $165.12. The move came after shares tested support near the 52-week low of $142.58 earlier in the week.
Multiple analysts highlighted technical patterns suggesting room for additional gains. Chad pointed to the stock reaching the monthly Ichimoku cloud, a level that often signals potential reversals.
He noted previous capitulation events in August 2024 and April 2025 both formed monthly candle wicks at the 0.618 log Fibonacci retracement. The recurring pattern suggests similar price behavior could emerge from the latest decline.
The Great Mattsby observed COIN repeated the flush to $158 witnessed in both 2024 and 2025. He said market patterns tend to echo at critical support zones.
Enrich Trades focused on support established in early 2024 that continues to hold. He called Friday’s 13% intraday gain a potential catalyst for a rapid move toward $200, while noting risk stays defined below the $145 level.
Futures Launch Adds Trading Options
Binance’s announcement to launch COINUSDT perpetual futures on Feb. 9 at 15:00 UTC provided additional momentum. The contract gives traders new ways to speculate on Coinbase stock price movements.
Friday’s trading range stretched from $151.57 to $165.52, reflecting intense volatility. Despite the rally, shares trade well below the 52-week high of $444.65.
The company’s market cap sits at $44.53 billion with average volume of 9.73 million shares. After-hours activity pushed the stock to $165.80, adding another 0.41%.
Legal Fight Escalates With Nevada
CEO Brian Armstrong warned the U.S. risks losing its competitive edge in financial innovation. He said the country faces a choice between leading the sector or watching it migrate overseas.
Armstrong took aim at state regulators fighting federal law, claiming they serve incumbent interests over consumer protection. His comments addressed the ongoing dispute with Nevada’s Gaming Control Board.
Chief Legal Officer Paul Grewal outlined the board’s attempt to block Coinbase from listing event contracts via ex parte action in state court. While initially denied due to due process concerns, a temporary restraining order was ultimately issued.
A preliminary injunction hearing is set for approximately two weeks from now. Grewal said Coinbase simultaneously filed in Nevada federal court, arguing the CFTC holds exclusive jurisdiction over these contracts under congressional authority.
The regulatory battle unfolds as crypto markets face pressure. CoinGecko data shows digital assets lost nearly $500 billion in value since Jan. 29, with Bitcoin trading at levels not seen since Election Day 2024.
Wall Street analysts project Q4 revenue of $1.86 billion when Coinbase reports Feb. 12. The estimate marks an 18% drop from the same quarter last year, with earnings per share expected at $1.39.
Trading volume Friday reached 33,000 shares as the stock rebounded from recent lows. The $145 support level remains critical for maintaining bullish momentum heading into the earnings announcement next week.
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