Coinbase (COIN) shares lost ground for a fourth-consecutive session on Monday, wrapping up a volatile month in which the stockꦐ lost one-fi🎃fth of its value.

Shares of the largest U.S.-based 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网: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官方🌼开奖结果体彩网:worries🐭 that tariffs could slow economic growth and reignite 澳洲幸运5官方开奖结果体彩网:inflation. The stock♈ fell 1% to close Monday's session at $172.🅺23.

Below, we break down the 澳洲幸运5官方开奖结果体彩网:technicals on t꧅he Coinꩲbase chart and point out major price levels worth watching out for.

Descending Broadening Formation

Coinbase shares have retreated within a 澳洲幸运5官方开奖结果体彩网:descending broadening formation since last November, with the 澳洲幸运5官方开奖结果体彩网:50-day moving average (MA) poised to cross below the 200-day MA to form an ominous 澳洲幸运5官方开奖结果体彩网:death cross, a chart pattern that signals lower prices.

More recently, the stock has fallen toward the formation’s lower trendline, though volume g𓃲enerally declined th♚roughout most of March, indicating a waning trading interest in the shares.

Meanwhile, the 澳洲幸运5官方开奖结果体彩网:relative strength index (RSI) nears oversold territory, cautioning investors of weakening price momentu🀅m.

Let’s locate major 澳洲幸运5官方开奖结果体彩网:support and resistance levels of i🅰nterest on the Coinbase chart that investors me be watching.

Major Support Levels of Interest

A decisive 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网:swing low, a location 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官方开奖结果体彩网:horizontal line that links the Julꩵy 2🌳023 peak and February 2024 trough.

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官方开奖结果体彩网:countertrend peak, which aligns with a range of 澳洲幸运5官方开奖结果体彩网: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官方开奖结果体彩网:peaks and troughs that formed on the chart between April last year and Feb﷽ruary this year.

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