Coinbase activates Hyperliquid USDC treasury addresses while stock recovery remains fragile

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Coinbase up 2.23% today at $155.52

Highlights

COIN trades well below major moving averages, signaling strong short-, medium-, and long-term downside pressure.
Most daily and weekly technical indicators point to persistent bearish momentum, with several showing oversold readings but no bullish reversal signs.
Trading is expected to remain rangebound between $147 and $165 next week, with a decisive move below $147 risking a test of the $139.36 yearly low.

Downside pressure as key averages and resistance cap upside

COIN is trading well below its MA-20 ($187.32), MA-50 ($186.79), and MA-200 ($244.65), reflecting persistent short-, medium-, and long-term downside pressure. The Ichimoku Kijun level at $185.16 sits above the current price, marking immediate resistance.

Bearish momentum persists as oversold signals limit recovery

Momentum signals on D1 are weak, with MACD indicating a strong bearish trend and ADX showing low directional strength. RSI, CCI, and Stoch RSI all signal oversold conditions, suggesting the market is stretched to the downside. BBP is markedly negative, highlighting continued dominance by sellers, while the Awesome Oscillator reinforces the bearish view. COIN is trading at $155.52, up from last week's close at $152.12, a gain of 2.38%, but remains positioned in the lower part of the weekly range. Weekly volatility stands at 20.67%. The recovery from the recent weekly low appears fragile given the strong bearish momentum.

Limited rebound odds as sideways range holds amid weak trend

For the coming week, the expected trading range is between $147 and $165, anchored well above the 52-week low of $139.36 and far below the 52-week high of $444.54. Given that none of the W1 directional indicators (RSI, ADX, MACD, MA-50) are bullish, the probability of a meaningful price increase is very low (less than 20%), making further declines more likely. The baseline scenario is sideways movement within the $147–$165 zone as current oversold conditions may slow further declines. A bullish scenario would require a breakout above immediate resistance at $185, opening a move toward the next key resistance near MA-50, while a bearish scenario involves a decisive drop below near-term support at $147, bringing the yearly low into view.

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Previously it was reported that Coinbase became the official deployer of Hyperliquid’s USDC treasury wallet, signaling a strategic partnership and transition in reserve asset management. In the context of evolving partnerships and protocol integrations, the prevailing scenario suggests traders should closely monitor Coinbase’s role in ecosystem developments for potential catalysts impacting liquidity and sentiment.

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