Brian Armstrong initiative draws attention as Coinbase stays near lows after revenue drop

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Coinbase Slides 2.89% Today

Highlights

Shares of COIN are trading at $126.90, well below major moving averages, indicating strong downward momentum.
Technical indicators including MACD, ADX, and oscillators show ongoing selling pressure and oversold market conditions.
The price is expected to stay in a $120 to $130 range, with a low probability of recovery and increased risk of a drop below $120.

Brand campaign and positive news outweighed by weak revenues, seller pressure

Brian Armstrong shared that Coinbase has launched a children's book that includes a $50 bitcoin bonus, aiming to promote early investment and financial education among young users. This tweet highlights a push for broader adoption and long-term customer growth, supporting a positive outlook for brand engagement and future user demand. However, despite this supportive message, the market is weighing weak financial performance and seller dominance more heavily, with negative price action following a drop in transaction revenue. Recent company news includes final approval for a national trust bank charter, a business payments pilot launch with PNC to convert USDC to dollars, a renewed USDC revenue agreement with Circle, and new automation guardrails for agency trading.

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But we saved everything 🙂.

Sustained technical weakness caps upside as indicators flag caution

COIN is trading well below the MA-20 ($152.59), MA-50 ($171.68), and MA-200 ($174.40), signaling seller control across all time frames. Immediate support is near the recent low zone, while the nearest resistance stands at the Ichimoku Kijun of $157.43. The MACD remains firmly negative and the RSI reflects oversold conditions, indicating continued downside momentum. The technical forecast for the next five days projects a likely range between $120 and $130, and the tweet’s bullish signal is not yet confirmed by market action, adding a note of caution to the near-term outlook.

Anton Kharitonov, expert at Traders Union, takes a skeptical view of Brian Armstrong’s promotional push, viewing the children’s book initiative as positive in theory but weak in near-term impact. He sees that despite upbeat attempts to drive brand engagement and user growth, COIN’s persistent price weakness, significant underperformance below key moving averages, and negative momentum cannot be ignored. "Technical sellers are in clear control, and promotional news alone won’t alter the unfavorable setup — risk remains to the downside until support decisively holds."

Previously it was reported that Coinbase launched its futures and swaps trading services through Coinbase Financial Markets, while clarifying state-specific restrictions and risk disclosures. This article introduces new developments for Coinbase, prompting traders to monitor upcoming regulatory updates as a potential driver for near-term volatility.

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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