Coinbase (COIN) stock faced rejection at $278, indicating waning bullish momentum, but is now showing signs of a potential rebound from key support.
The stock recently bounced off the 50-day EMA at $234.80, with a golden crossover in EMAs suggesting a short- to medium-term bullish trend.
Despite bullish indicators on the 4-hour and weekly charts, COIN may still face corrections with key support levels at $225 and $190.
Long-term outlook remains constructive, with critical levels at $278 for resistance and $143 for support, determining the next major trend.
Coinbase (COIN) stock previously faced a strong rejection at the golden ratio resistance of $278, coinciding with the formation of a bearish divergence in the daily RSI—a classic signal of waning bullish momentum. Following this, the price entered a corrective phase, retracing down to a key support level, where it is now showing signs of a bullish rebound, suggesting a potential resumption of the upward trend.
Coinbase (COIN) Stock Bounces Off 50-Day-EMA Support
Coinbase (COIN) recently bounced off the 50-day EMA at $234.80, following a sharp rejection at the key Fibonacci resistance level of $278. On the daily chart, the EMAs have formed a golden crossover, confirming the short- to medium-term bullish trend. Despite this, the MACD lines remain bearishly crossed, though the histogram has started to tick higher since yesterday, indicating early signs of bullish momentum resurfacing. Meanwhile, the RSI hovers in neutral territory, offering room for movement in either direction.
Should COIN resume its correction, key Fibonacci support levels lie at $225.50 and $190.00. To the upside, the golden ratio at $278 continues to act as major resistance. A confirmed breakout above this level could trigger a sharp rally toward the next resistance zone between $319.40 and $369.00, implying a potential upside of 31.35% from $278.
Coinbase
Bullish Indicators On The 4H Chart
On the 4-hour chart, Coinbase (COIN) is showing renewed bullish momentum. The MACD histogram has been ticking higher, and the MACD lines have now crossed bullishly, reinforcing the shift in short-term sentiment. Additionally, the EMAs have formed a golden crossover, confirming the trend as bullish in the immediate term. However, the RSI remains directionless, offering no clear momentum bias at this stage.
Despite the recent bullish developments, a deeper correction remains possible. COIN still faces notable Fibonacci support levels around $225 and $190, which could come into play if selling pressure resumes.
Coinbase
Predominantly Bullish Signals on the Weekly Chart for Coinbase (COIN)
On the weekly chart, Coinbase (COIN) continues to exhibit a predominantly bullish structure, despite undergoing a multi-week correction. The MACD histogram has started to resume its uptrend, following a brief period of bearish contraction last week, while the MACD lines remain bullishly crossed. In addition, the EMAs are still aligned in a bullish crossover, reinforcing the mid-term bullish trend. The RSI holds in neutral territory, suggesting there is still room for directional development.
After nearly doubling in price over a seven-week rally, COIN has now been in a five-week corrective phase. Should this correction deepen, the 50-week EMA aligns closely with the 0.382 Fibonacci support level near $225, offering a strong confluence of technical support in the event of further downside.
Coinbase
Key Levels For Coinbase Stock
On the monthly chart, Coinbase (COIN) maintains a constructive long-term outlook. The MACD histogram has been ticking bullishly higher since last month, and the MACD lines remain bullishly crossed, suggesting sustained upward momentum. Meanwhile, the RSI continues to hover in neutral territory, indicating balanced conditions with room for directional movement.
From a structural perspective, the decisive levels that will determine the next major trend for COIN are the golden ratio resistance at $278 and the golden ratio support at $143. A sustained hold above $143 keeps the long-term uptrend intact. However, a confirmed break below this level would invalidate the bullish structure and shift the outlook to a broader downtrend.
Conversely, a monthly close above $278 would mark the end of the current correction phase and open the door for a potential rally toward the next major resistance zones between $319 and $492.50.
Konstantin Kaiser comes from a data science background and has significant experience in quantitative trading. His interest in technology took a notable turn in 2013 when he discovered Bitcoin and was instantly intrigued by the potential of this disruptive technology.
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