Coinbase announces live Q3 earnings AMA: Will COIN hold $155.92 support?

Coinbase announces live Q3 earnings AMA: Will COIN hold $155.92 support?
Coinbase stock is little changed today

Coinbase said it will host a live Q3 earnings AMA with multiple guests on Thursday at 5PM ET. The stock is little changed on the day, trading near $161.04.

COIN price prediction
24H 0.51%
$148.59
48H -0.45%
$147.16
7D 1.77%
$150.44
1M -26.64%
$108.45
3M -47.52%
$77.58
6M -61.6%
$56.76
12M -57.99%
$62.1
Current price: $147.83 10.00 7.26%
Real-time Data 12:50
Daily range 135.46 Arrow from to Icon 143.77
Weekly range 135.46 Arrow from to Icon 163.54
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Highlights

  • Coinbase will hold a live Q3 earnings AMA on Thursday at 5PM ET with several guest speakers scheduled.
  • 46 of 106 analysts rate Coinbase stock a buy, with a median price target of $328, more than double its current price.
  • Coinbase stock is little changed on the day, trading near $161.04, with a market value close to $40.76 billion.

Coinbase announced it will host a live Q3 earnings AMA on Thursday at 5PM ET. The announcement was made directly from the company’s official account. The session is set to feature guests @blknoiz06, @jonbma, @LorenzoARK and Andrew Jeffrey.

Bearish structure holds as oversold signal limits further downside risk

Stoch RSI is in oversold territory, indicating the current reading is stretched and limiting the risk of further downside. Shares of Coinbase trade below their MA-20, MA-50, and MA-200, which keeps the daily structure tilted bearish. The nearest support on the chart is the weekly low at $155.92. Price action over the past week has featured a sharp move lower but has yet to show a sustained trend in either direction.

Downside probability dominates as longer-term trend stays negative

To gauge whether traders are pricing in the recent revenue development, watch for a close above $172.64 as confirmation that buyers are willing to follow through, or a drop below $155.92 to indicate the move is being faded. Stoch RSI remains in oversold territory, reflecting a stretched reading that restricts the scope for additional downside from current levels. Even so, downside probability stands at 74% and upside probability at 26% over the coming trading week, with the expected range between $153.56 and $168.51. On the weekly chart, the longer-term picture stays firmly negative.

Previously it was reported that Coinbase launched the Coinbase Champions Cup, a derivatives trading competition for eligible users. The upcoming live Q3 earnings AMA adds a new dimension for traders, with the key level to watch now being a close above $172.64 to suggest potential bullish follow-through.

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