Key Takeaways
- Coinbase shares soared after the Senate passed the GENIUS Act, a bipartisan bill that regulates and promotes the use of stablecoins.
- After bottoming out in early April, Coinbase shares trended higher before consolidating within a flag, a chart pattern that indicates a continuation of the stock’s uptrend.
- Investors should watch crucial overhead areas on the Coinbase chart around $330 and $450, while also monitoring support levels near $265 and $212.
Coinbase Global (COIN) shares soared this week after the Senate passed the GENIUS Act, a bipartisan bill that regulates and promotes the use of stablecoins.
Investors see the legislation, the first major framework approved by Congress dealing with the digital currency…
