Coinbase stock slips below $176.20 support amid persistent intraday weakness

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Coinbase drops 3.81% today to $182.07

Highlights

Coinbase activated the Cobalt upgrade on its Base Layer-2 network, enabling new transaction types and token tools.
The SEC published a regulatory proposal to allow registered investment advisers and funds to custody crypto assets with diverse providers.
Shares of Coinbase are under bearish pressure with the price sliding to $182.07, expected to range between $176.2 and $188.29 in the next 2 to 3 days.

Network upgrade and regulatory shift drive broader revenue diversification

Coinbase activated the Cobalt upgrade on its Base Layer-2 network via hard fork on September 30, 2026, adding conditional validity transactions and expanded B20 token standard tools for issuers on the platform, according to Crowdfundinsider. The U.S. Securities and Exchange Commission also published a regulatory proposal on October 1, 2026, to establish a framework that would allow registered investment advisers and regulated funds to custody crypto assets, including through state trust companies and in select cases self-custody, as reported by the SEC. Alongside these developments, Coinbase has diversified its revenue base by reducing reliance on Bitcoin-related activity and expanding into new business lines, though price action has remained under broader selling pressure.

Conflicting technical signals as momentum weakens below resistance

On the hourly chart, COIN is trading below both the MA-20 at $188.44 and MA-50 at $193.23, with the daily price also remaining below the MA-200 at $185.74. The Ichimoku Kijun on the daily sits at $191.48, marking initial resistance for any upward attempt. Momentum readings are mixed: MACD shows a strong sell signal, while ADX highlights underlying buy pressure. RSI is at 47.96 with a Sell indicator, Stochastic RSI is overbought, and CCI is neutral. Bull/Bear Power is also overbought, indicating buyers have some intraday control despite the overall downward move. This divergence between overbought oscillators and a bearish MACD sets a conflicting technical picture.

Downside risk prevails as volatility and consolidation shape outlook

Over the next 2–3 trading days, COIN is expected to remain volatile within the $176.2 to $188.29 range. The likelihood of an upward move is very low, while the probability of a further decline is high. If price rebounds above the $191.48 resistance, a short-term recovery could develop, but if COIN falls below $176.2, this would open further downside risk. The baseline scenario projects a period of consolidation within the current range amid heightened volatility.

Viktoras Karapetjanc, Traders Union expert, sees Coinbase positioned at a critical juncture. He believes major regulatory steps and the Cobalt upgrade are building long-term value for the platform. Despite near-term volatility and technical weakness, the expert remains optimistic as fundamentals continue to improve. "If institutional flows materialize and Coinbase demonstrates traction beyond Bitcoin, I view this as a constructive setup for medium-term upside."

Previously it was reported that Coinbase expanded its product suite with new trading features and lending options for U.S. users, signaling ongoing efforts to diversify its offerings. The current technical outlook adds a layer of caution, highlighting the importance of monitoring the $176.2 support level for potential downside risk in the near term.

Source of Data: COIN Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.