Coinbase’s share price continues to its negative performance and is heading towards its lowest levels since June and is also close to returning to its lowest levels since the IPO at $40.83. COIN share is being traded below the short and long-term exponential moving averages, while neither the RSI nor the MACD indicates a possible bullish reversal now.
On the daily chart, if the COIN share price fails to hold above the $44.15 support level, we may witness a return to the all-time low of 40.83. But in the opposite case, if the COIN share price manages to recover the $52.63 level, the previous downside hypothesis may be violated, and we may witness a return of COIN share price towards the level of $63.43.
The $75 level remains the most difficult upper target at the moment with the very poor technical condition of COIN share – considering the creepy fundamental conditions of crypto market.
it should come down IMO as well, but I would say because FTX went down people are flooding to other places Coinbase being one of them. Earnings was obviously crap, so we saw the other face of crypto in crypto winter scenario. Short to Medium term IMO, targets are debatable depending on what you using to measure. Long term bullish.
SamerHa
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@Seckinoldo, Liquidity of crypto giants is now a major issue in the market. FTX, Celsius and maybe others soon may spread an infection of distrust between crypto and crypto shares investors. For the long term, personally I think it is up to one major factor: regulation.