Coinbase Stock Price Plummets Below Key Moving Averages

Coinbase's stock price continued its decline in the latest trading session, dropping by 10.56% and extending its weekly losses. The company's shares are now trading below their short-, medium-, and long-term moving averages, indicating a strong bearish bias across all trends.

According to technical signals, there is a high probability (over 80%) of further declines in the coming week, with a very low chance (less than 20%) of a rebound. The expected trading range for next week is between $142.80 and $148.10, closely clustered around current levels.

Coinbase's stock price has been affected by the bearish trend, which is reinforced by the company's recent activity. Despite its efforts to expand globally and expose attempts to kill crypto, the stock continues to trade below key moving averages, including its SMA-20 ($162.01), SMA-50 ($164.34), and SMA-200 ($212.43).

The Ichimoku Kijun at $160.35 sits above the current price, reinforcing immediate resistance. Near-term support is found near the SMA-20 at $162.01, with key support at the SMA-50 ($164.34). Immediate resistance is the Ichimoku Kijun ($160.35), followed by key resistance at the SMA-100 ($177.89).