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As one of the leading cryptocurrency exchanges in the US, Coinbase (COIN) has faced pressure from broader market volatility and regulatory concerns. While the medium-term outlook remains bearish, the earnings-gap support area could present opportunities for traders looking for a technical bounce.
 

COIN Daily Chart

Coinbase is continuing its move to the downside, consistent with the bearish wave C pattern we have been tracking. The stock is now showing a pronounced decline, likely extending into the earnings-gap area from May 2025, a zone that could be critical for potential stabilization in the coming weeks. This aligns with the observation that Coinbase appears to be completing a five-wave impulse into wave C from the October 2025 high.

Key Levels:

• Trend: Bearish within wave C

• Support: 230–208

• Resistance: 295–360 (a break above this range would confirm bullish momentum)

• Note: The earnings-gap zone is crucial for potential near-term stabilization

Overall, market participants should watch for signs of stabilization around this critical support zone, which may indicate the end of wave C and the start of a potential recovery.

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