Coinbase (COIN) Stock Bounces 19% – Is it a Buy Before Earnings Thursday?

TLDR

• COIN stock jumped 19% to $165.12 on Friday as analysts predict a potential rally above $200, with Bitcoin recovering and Binance launching COINUSDT perpetual futures on Feb. 9.
• Multiple analysts point to historical support levels around $158, noting similar capitulation events in August 2024 and April 2025 that preceded rallies.
• Coinbase CEO Brian Armstrong warned U.S. risks falling behind in financial innovation as Nevada Gaming Control Board attempts to block event contract listings.
• Q4 earnings expected Feb. 12 show revenue estimates of $1.86 billion, down 18% year-over-year as crypto markets lost nearly $500 billion since late January.
• Stock trades at $165.80 after hours with market cap of $44.53 billion, still well below 52-week high of $444.65 as analysts see risk defined below $145.

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COIN stock posted a sharp rebound Friday, gaining $13.00 or 19% to close at $165.12. The rally came as Bitcoin recovered and buying interest returned after a brutal selloff that pushed shares to recent lows.

Coinbase Global, Inc., COIN

Multiple technical analysts now believe the stock could push toward $200 if current support holds. Analyst Chad noted COIN reached the monthly Ichimoku cloud, a key technical indicator.

He pointed out that the last two capitulation events in August 2024 and April 2025 both left monthly candle wicks at the 0.618 log Fibonacci level. The pattern raises questions about whether history could repeat following the latest decline.

Analyst The Great Mattsby echoed similar views. He said COIN repeated the 2024 and 2025 flush to $158, adding that history often rhymes in markets.

Enrich Trades focused on what he called major support that has held since early 2024. He highlighted Friday’s 13% gain as creating potential for a quick move toward $200.

He also noted that risk remains clearly defined if the price breaks below $145. That level appears to be the line in the sand for bulls watching the setup.

Binance Launches COIN Futures Contract

The stock got a boost from Binance’s announcement that it will launch a COINUSDT perpetual futures contract on Feb. 9, 2026, at 15:00 UTC. The new product gives traders another way to bet on Coinbase’s stock price moves.

During Friday’s session, COIN traded between $151.57 and $165.52, showing heavy intraday volatility. The stock remained far below its 52-week high of $444.65.

The yearly range showed COIN trading between $142.58 and $444.65. Market cap stood at $44.53 billion with average daily volume reported at 9.73 million shares.

The price-to-earnings ratio measured 14.29. After-hours trading saw the stock edge up another 0.41% to $165.80.

CEO Warns on U.S. Regulatory Approach

Coinbase CEO Brian Armstrong issued a stark warning about U.S. competitiveness in financial innovation. He said the country can either lead or watch innovation move offshore.

Armstrong criticized state regulators for fighting federal law, arguing they protect incumbents rather than consumers. The comments came as Coinbase battles the Nevada Gaming Control Board over event contracts.

Chief Legal Officer Paul Grewal detailed the dispute. He said the board attempted to stop Coinbase from listing event contracts through an ex parte action in Nevada state court.

The court initially denied the request after Coinbase argued due process required a chance to be heard. However, Grewal said the state court still issued a temporary restraining order.

A preliminary injunction hearing is now scheduled in roughly two weeks. Grewal added Coinbase also filed in Nevada federal court, arguing Congress granted the CFTC exclusive jurisdiction over these listed contracts.

Crypto markets lost nearly $500 billion in value since Jan. 29, according to CoinGecko. Bitcoin trades at its lowest level since Election Day 2024.

Analysts surveyed by Yahoo Finance have a consensus revenue estimate of $1.86 billion for Coinbase’s Q4 earnings on Feb. 12. That represents an 18% decline from a year ago, with earnings per share expected at $1.39.

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