A combination of heavily oversold market and some rumors about some weird moon project announced by coinbase was abused by some very wealthy people (if not the same people involved with the " moon " project). The price was pumped at the perfect time, just as it bounced off the upper line of the . This blowout, can technically still be seen as a throwover of that same , in which case we will see new lows in the coming weeks.
The fact that coinbase spent such huge amounts of money in marketing for their new trading exchange, is just another sign that they might be involved in the bigger picture. I do however aknoledge that, long term, this news is extremely for as it presents a door for wallstreet money. If this happens, the we will see in the next months is going to be sick making.
But lets not jump ahead of things. For now (short term), the price seems to have reached its top and is about to correct. The next days/ week will be very important as they will probably prove that we are still in market.