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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.
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.
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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.
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.