Coinbase shares surged to $380, regaining valuation levels not seen since its April 2021 Nasdaq debut. This recovery, which shows a significant rebound from a low of $31.55, has led to an inverse head-and-shoulders pattern on the weekly chart, indicating a possible bullish trend. Analysts predict a potential target of over $600, with some estimates suggesting a rally to $660 as the measured move. Trading volume dropped during the formation of the inverse pattern but began to rise as the right shoulder developed. This bullish outlook is supported by major analysts like Oppenheimer, which recently increased its price projection for Coinbase from $293 to $395, maintaining an 'outperform' rating. Omkar Godbole, the article's author, is a Chartered Market Technician who has extensive experience in financial research, holding small amounts of various cryptocurrencies.

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