Brian Armstrong highlights growth but Coinbase struggles below resistance after sharp drop

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Coinbase Slides 3.86% to $181.99 Today

Highlights

COIN trades below key short-term moving averages but keeps medium- and long-term bullish technical structure intact.
Daily momentum indicators are mixed, with strong buy signals from MACD but weakness and neutral readings in other oscillators.
The forecasted five-day price range is $175.00 to $190.00, with less than 20% probability of an increase and most signals favoring continued downside or sideways consolidation.

Operational milestones weighed against weaker earnings as growth narrative builds

Brian Armstrong highlighted several recent achievements for Coinbase in September, including IPO access, a stablecoin partnership with Citi, onboarding over 1,000 community banks, and advances in AI-driven trading. This tweet matters for COIN as it signals ongoing diversification of the company's services and potential increases in adoption, which could drive long-term platform growth. However, despite these positive developments, persistent market focus on weaker quarterly revenues and a reported net loss have overshadowed the upbeat operational news. Additional recent milestones include Coinbase reducing its Bitcoin-related transaction dependency and launching significant upgrades on its Layer 2 network, Base.

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Short-term downside bias as mixed indicators contain price below resistance

COIN is currently below both the MA-20 ($186.32) and MA-200 ($185.74), but remains above the MA-50 ($172.38). The nearest support is the Ichimoku Kijun at $184.64, with resistance near the $185–$186 zone; the dominant trend signal points to short-term downside as MACD signals strong buy while RSI is only moderately bullish. The 5-day forecast range is $175.00–$190.00, with price expected to consolidate sideways and a low probability of upside momentum. Notably, the tweet's positive signal has not been confirmed by price action, which adds caution to the short-term outlook.

Anton Kharitonov, expert at Traders Union, takes a guarded view of Brian Armstrong's positive updates, stressing that upbeat management statements rarely offset weak price action and fundamental headwinds. He notes that COIN's failure to hold above $185 resistance and ongoing technical vulnerabilities outweigh recent operational news, while traders remain focused on negative earnings and volatility risk. "Until both sentiment and technical signals improve and resistance is regained decisively, I see little reason to expect sustainable upside for Coinbase in the near term," he warns.

Previously it was reported that analysts saw Coinbase facing continued volatility and downside risk amid conflicting technical signals and broader industry shifts. This article adds a further layer of context by highlighting developing market dynamics, with investors now advised to watch for a potential shift in momentum that could redefine the prevailing trend.

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

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