Coinbase stock price, that most elusive of treasures, continues to languish in the shadow of the broader market’s triumphs this year, despite the faint glimmers of hope emanating from the hallowed halls of Wall Street.
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The daily chart tells a story of despair, with COIN’s price retreating from last year’s high of $443 to today’s $240. A descent as steep as a cliff. 🪂
Recently, it formed a death cross, a harbinger of doom as the 50-day EMA dips below the 200-day one. A omen as ominous as a storm cloud. 🌩️
Now, it’s forming a bearish pennant, a pattern as symmetrical as a chessboard. 🎯
Additionally, it has fallen below the 61.8% Fibonacci Retracement level at $257 and lingered below the Supertrend indicator. Thus, the bearish forecast looms large, with the next target being the psychological $100 mark. But should Bitcoin rebound, the outlook may shift-though such a miracle is as likely as a snowball’s chance in hell. ❄️
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2026-01-17 00:16