Coinbase (COIN) shares lꦛost ground for a fourth-consecutive🌱 session on Monday, wrapping up a volatile month in which the stock lost one-fifth of its value.

Shares of the largest U.S.-based 澳洲幸运5开奖号码历史查询:crypto brokerage have fallen sharply since registering a three-year high in early December. The decline closely correlates with a steep fall in 澳洲幸运5开奖号码历史查询:trading volumes on the exchange since that time amid a significant retracement in bitcoin’s price, prompting concerns that lower transaction fees could crimp the company’s revenue.

Coinbase shares have lost about half their value from their December peak, tracking a broad sell-off in leading cryptocurrencies and technology stocks over 澳洲幸运5开奖号码历史查询:wo🐈rries that tariffs couဣld slow economic growth and reignite 澳洲幸运5开奖号码历史查询:inflation. The stock fell 1ꦆ% to close Monday's session at $172.23.

Below, we break down the 澳洲幸运5开奖号码历史查询:technicals ﷽on the Coinbase chart and point out major price levels wort♒h watching out for.

Descending Broadening Formation

Coinbase shares have retreated within a 澳洲幸运5开奖号码历史查询:descending broadening formation since last November, with the 澳洲幸运5开奖号码历史查询:50-day moving average (MA) poised to cross below the 200-day MA to form an ominous 澳洲幸运5开奖号码历史查询:death cross, a chart pattern that signals lower prices.

More recently, the stock has fallen toward the formation’s lower trendline, though volume generally declined throughout most of March, indi🐽cating a waning trading interest in the shares.

Meanwhile, the 澳洲幸运5开奖号码历史查询:relative strength index (RSI) nears oversold ter𒁃ritory, cautioning investors of wea𝓰kening price momentum.

Let’s locate major 澳洲幸运5开奖号码历史查询:support and resistance levels of interest on the Coinba🎐se chart that investors me be watching.

Major Support Levels of Interest

A decisive 澳洲幸运5开奖号码历史查询:breakdown below the descending broadening formation’s lower trendline could see the shares initially revisit lower support around $146. Investors may look for buying opportunities in this area near last year’s prominent September 澳洲幸运5开奖号码历史查询:swing low,ไ a loca♎tion also aligning with a series of comparable trading levels on the chart between December 2023 and February 2024.

Selling below this level could see the shares drop to the $115 level. This area on the chart would likely provide support near a multi-month 澳洲幸运5开奖号码历史查询:horizontal line that links the July 2023 peak and February 2024 t꧅rough.

Key Resistance Levels to Watch

Initial upswings in the stock could run into selling pressure around $206. Coinbase shares may encounter resistance in this location near the March 澳洲幸运5开奖号码历史查询:countertrend peak, which aligns with a range of 澳洲幸运5开奖号码历史查询:price action on the chart extending back to last February.

Finally, a rally above this area brings the $264 level into play. This region, currently positioned just above the descending broadening formation’s upper trendline, would likely attract interest near a range of 澳洲幸运5开奖号码历史查询:peaks and troughs that formed on the chart between April last year and February thiꦜs year.

The comments, opinions, and analyses expressed on Investopedia are for informational purposes only. Read our 澳洲幸运5开奖号码历史查询:warranty and liability disclaimer for more info.

As of the date this article was written, the author does not own any of the above securities.