$COIN Under Siege: Coinbase Stock Battles to Hold $310 Support Amid Relentless Selling

Wall Street's crypto darling takes a beating as bears pile on.

Coinbase shares flirt with danger—$310 isn't just a number, it's the last line of defense before panic selling kicks in. The 'blue-chip' exchange suddenly looks more like a meme stock as institutional investors flee faster than a DeFi exploit.

Technical breakdown or buying opportunity? The chart screams 'caution' while crypto maximalists whisper 'discount.' Meanwhile, traditional finance sharks circle—nothing makes a hedge fund happier than watching crypto bros sweat.

One thing's certain: when the 'regulated' exchange bleeds, the whole industry feels it. Whether this is healthy correction or the start of something uglier depends on who's holding the bag.

Crypto Analyst Flags Crucial Watch Points

Ali Martinez, a well-known crypto analyst with a substantial following on social media has raised concerns about a potential fall of the COIN stock. At the time of writing, the stock was exchanging hands at approximately $314 with a slight correction.

Coinbase $COIN must reclaim $340 soon to avoid a potential correction down to $270. pic.twitter.com/8ZuwQvdUJU

The analyst suggests that the stock price may experience a significant correction to as low as $270 if it fails to regain the $340 mark within a short period of time. This raises concern about the price prospects of the COIN token as it is one of the key players in the crypto community.

Will COIN Stock Record A Strong Rebound?

At the time of writing, the value of this stock was $318. Notably, over the past two trading sessions, it has been retesting its crucial support level of $310. Moreover, a constant close under this may result in it plunging toward its support of $275, which is the next major support.

On the other hand, multiple resistance trend levels are clearly visible for the COIN stock. The immediate one is at $342, followed by one at $375, which escalated selling pressure in the past. Moreover, the all-time high (ATH) of it is around $425.

The Moving Average Convergence Divergence (MACD) indicator confirms rising bearish momentum for it in the market. With a bearish crossover and increasing negative histogram, investors are advised to stay cautious in the shorter time frames.

Coinbase is in the make or break position. The reversal of this support may again ignite a bullish interest. However, with a breakdown, a sharper correction can be expected. Traders and investors are suggested to wait to get clearer and more table volume trends to be on the correct side.

Also Read: Grayscale Reshapes Leadership to Strengthen Crypto Investment Push 

The Crypto Times does not endorse or promote this Stock in any manner and this article was written only for educational purposes. Make sure to “DYOR” before investing into any digital asset as the market is highly volatile.