Take a look at this coinbase values ​​while the shares are integrated in the news of S&P 500

The shares of Coinbase (coin) approved news on Tuesday that the cryptocurrency exchange will be added to the S&P 500.

Coinbase, the largest crypto exchange in the USA, will replace Discover Financial Services (DFS) in the benchmark index before trading will open next Monday and mark a large milestone for the company that went to the stock exchange in April 2021.

The recording takes place less than a week after the company had declared that it had agreed to acquire Deribit, a crypto option exchange for $ 2.9 billion in cash and stocks, on the same day when they received profits under the expectations of Wall Street in the first quarter.

The Coinbase shares rose by 24% on Tuesday and closed at around 257 US dollars. With this step, the inventory for 2025 developed into a positive area and recovered from an early April low of around $ 142.

In the following we break up the technical data in the coinbase diagram and indicate the most important price levels that investors will likely observe.

Reversed head and shoulders sample outbreak

Between March and May, the Coinbase shares created an opposite head and shoulder pattern on the table, whereby the price on Tuesday was making a decisive outbreak over the section of the formation.

Even before today's rally, the stock had registered an above -average volume over the previous three trading sessions, which indicates that larger market participants had accumulated shares to prepare for a significant revival.

Let us identify important overhead areas in the Coinbase diagram to observe the potential for further upward trend and also find an important support level that monitors during possible declines.

To observe important overhead areas

The level of 245 US dollars was an important area to observe how it came to the meeting on Tuesday, as it was near two closely oriented troughs that were formed in December and January.

Since this level was conveniently exceeded, the shares could increase to the level of 273 US dollars. Investors who have bought at lower prices can combine a sales order in the table in the table in this region near a horizontal line, which extends by last year.

This level also corresponds to a measured moving price goal that calculates the depth of the inverse head and shoulder pattern in points and adds the excerpt of the formation. For example, adding 65 to 208 US dollars project a target of 273 US dollars.

A higher movement can trigger a rally in the direction of $ 330. This area on the diagram could provide the sales pressure near several peaks that have developed on the diagram directly below the share of the share of the stock.

Value the main support level that is worth monitoring monitoring

During the tractions in Coinbase shares, investors should monitor the level of $ 208. This location in the table would probably take the purchase interest for a renewed test of the reversal and shoulder section, which can become a large support area after the outbreak on Tuesday.

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Until the date on which this article was written, the author has none of the above securities.