Coinbase Global Inc. (COIN) stock rose nearly 5% on Friday as Bitcoin rebounded and Wall Street analysts updated their price forecasts for the cryptocurrency exchange.

Broader markets also traded higher Friday. The Nasdaq gained 0.33%, while the S&P 500 rose 0.36%.

Bitcoin Rebound Supports Coinbase Stock

Bitcoin (CRYPTO: BTC) climbed 1.52% over the past 24 hours to $82,935.14, gaining $1,242.34.

The recovery provided support for cryptocurrency-linked stocks, including Coinbase. The exchange benefits from stronger digital asset markets because higher trading activity can boost transaction revenue.

Wall Street Analysts Update Coinbase Price Forecasts

Several Wall Street analysts revised their Coinbase price forecasts this week.

On Friday, Morgan Stanley analyst Michael Cyprys maintained an Equal-Weight rating and raised his price forecast from $250 to $258.

However, Citizens analyst Devin Ryan maintained a Market Outperform rating but lowered his price forecast from $325 to $280.

Earlier, on Wednesday, Barclays maintained an Underweight rating and increased its price forecast to $149.

Technical Analysis

Coinbase shares have fallen 53.11% over the past year. However, the stock has shown signs of improving momentum.

At $180.08, the stock trades above its 50-day simple moving average (SMA) of $174.61 and its 100-day SMA of $169.95.

However, shares remain 2.8% below the 20-day SMA of $186.86 and 1.2% below the 200-day SMA of $183.79. These levels could limit further gains.

The relative strength index (RSI) stands at 48.78, indicating neutral momentum.

Meanwhile, the 20-day SMA remains above the 50-day SMA, suggesting some short-term strength. However, the bearish crossover formed in December 2025 remains a longer-term concern.

Key resistance stands near $196, with the 200-day exponential moving average at $193.25. Support is near $161.

Coinbase ETF Exposure

Coinbase also has significant exposure through several exchange-traded funds.

The Corgi Crypto Infrastructure ETF (NASDAQ: BLCK) holds an 8.47% weighting in Coinbase. The ARK Blockchain & Fintech Innovation ETF (NYSE: ARKF) has a 5.60% weighting, while the Fidelity Crypto Industry and Digital Payments ETF (NASDAQ: FDIG) holds 5.32%.

These holdings give investors indirect exposure to Coinbase. Changes in fund flows and portfolio rebalancing could also affect demand for the stock.

COIN Stock Price Action

Coinbase Global shares gained 4.70% to $180.08 at the time of publication Friday, according to market data.