Coinbase Stalls at Resistance as Momentum Fades

Coinbase (COIN) is trading at $194.89 after modest gains of 1.74% on the day, but its rally has stalled at the $198.92 resistance level.

The stock's technical structure remains bullish, with all major moving averages above current price, including the 7-day SMA ($196.10), 20-day SMA ($187.63), 50-day SMA ($179.19), and 200-day SMA ($176.32).

However, momentum has slowed down, as indicated by a flat MACD histogram, which suggests that the bull run may be losing its punch.

The real question now is whether this pause consolidates into a higher base or if gravity wins, with $198.92 being the critical level to watch.