Coinbase Stock on Thin Ice as Q3 Earnings Loom

Coinbase stock continues to struggle below its key short-term moving averages at $187.17, with momentum grinding to a halt and Q3 earnings looming on October 29.

The technical picture is neutral at best, with the MACD flatlining and the RSI reflecting indifference. The Bollinger Band positioning puts COIN almost exactly in the center of its $167.27, $210.33 band range, but the stock has dropped from near the upper band and is now gravitating toward the midpoint.

The path of least resistance after a midpoint touch in a downtrend is toward the lower band, in this case, $167.27.