Is Coinbase on the brink of a breakout, or will it remain trapped below $200? The COIN price has been trapped between a strong resistance at $200.32 and key support at $193.87 for several sessions, and traders are closely monitoring every move. Despite early signs of strength on May 8, the Coinbase stock once again failed to secure a breakout, showing fluctuations near the upper boundary. Price action has remained reactive to intraday MACD signals, offering quick momentum shifts but no sustained trend. With volatility narrowing and pressure building at both ends of the range, the next confirmed move could define the short-term direction. Let’s break down how the Coinbase price behaved throughout the last 24 hours.
Coinbase (COIN) Price Analysis of May 8, 2025
The Coinbase price analysis over the last 24 hours shows that the price remained range-bound between resistance at $200.32 and support at $193.87. The day began at 13:30 UTC, with the COIN price opening near $196.50. Early candlesticks moved sideways before buyers pushed the price up to $198.20 by 14:00 UTC, testing short-term strength. At 14:15 UTC, the MACD printed a death cross, indicating the shift in momentum. Sellers responded immediately, and the price dropped below $196 by 14:45 UTC. From 15:00 to 15:30 UTC, bearish pressure built slowly. A second death cross confirmed further downside at 15:40 UTC, and the Coinbase stock declined to $194.90 by 16:20 UTC.
Chart 1 – COIN/USDT M5 Chart, Analysed By Anushri Varshney, Published on TradingView, May 8, 2025
At 17:20 UTC, the MACD formed a golden cross, giving bulls a signal to re-enter. Despite initial attempts to break above $200, the price struggled to maintain upward momentum, retracing to support near $194. Resistance near $197 remained firm, and the move lost momentum. By 18:10 UTC, another death cross appeared, pushing the COIN price back toward support. The price dropped gradually to its intraday low of $194.10 at 18:40 UTC, just above the $193.87 support.
At 18:55 UTC, the MACD flipped again with a clean golden cross. A slow recovery began. Between 19:00 and 20:30 UTC, price action turned upward. COIN climbed above $195.50 and stabilized above $196. A final golden cross appeared at 20:50 UTC, supporting continued strength into the close. The Coinbase price ended the session near $196.60, showing a full round-trip from resistance rejection to support defense and recovery.
COIN Price Stalls Near Resistance After Morning Surge
The COIN price opened strong near $196.70 at 13:30 UTC, quickly climbing to $199.50 by 14:45 UTC. This bullish move followed a MACD golden cross just before 14:00 UTC. However, resistance at $200.32 limits further gains. By 15:15 UTC, the MACD printed a death cross, triggering a pullback. The Coinbase price dipped back toward $197.40 by 16:30 UTC. A brief rebound followed, but another death cross at 18:00 UTC signaled continued weakness. The Coinbase stock stayed below $198.20, struggling to reclaim earlier momentum.
COIN Awaits Breakout as Range Tightens
Coinbase (COIN) continues a very tight range, with resistance at $200.32 and support at $193.87. The rejection caused a pullback in the COIN price, and it was unable to hold above the price level of $198. As there was early bullish price action to start, the price failed at the $198 level after it could not show follow-through, indicating hesitancy from buyers. The price held above the $193.87 support, indicating weak seller conviction. A final golden cross near the close hinted at a potential recovery, though confirmation is still pending. The price remains at a decision point: a breakout above $200.32 could signal a shift in sentiment, while failure to break resistance could lead to continued sideways movement.
Coinbase (COIN) Price Analysis For May 13, 2025
The COIN Price analysis over the last 24 hours shows a clear rejection at $214, followed by a slow drift back into support near $205. The COIN Price remained range-bound throughout the session with multiple signs of weakening momentum after an early attempt to rally. The day started around $207.50 with a minor bullish push. By 13:30 UTC, the Coinbase stock made a strong move toward $213.90, testing the resistance zone formed from previous highs. However, the breakout attempt was short-lived.
Chart 1- COIN/USDT M5 Chart, Analysed By Anushri Varshney, Published on TradingView, May 13, 2025
A positive candlestick at 13:45 UTC marked a strong rejection, dragging the price sharply down to $206 by 14:00 UTC. This move triggered a brief golden cross on the MACD, but momentum faded quickly. From 14:00 UTC to 16:00 UTC, the COIN Price moved sideways between $206 and $211. Candlestick bodies tightened, and volume dropped. The RSI remained near 70, signaling an overbought region with no continuation from buyers. Around 14:30 UTC, the MACD printed a death cross, which hinted at a likely trend reversal.
Downward Channel Forms as COIN Price Struggles Near Support
At 16:15 UTC, Coinbase Price attempted a minor breakout once again, pushing briefly above $210. However, this move created a lower high compared to the earlier peak. The price then entered a downward-sloping channel, beginning a gradual drop until 18:30 UTC. A second MACD death cross appeared during this slide, while RSI dipped close to the oversold mark at 17:50 UTC, reflecting growing bearish pressure.
By 18:30 UTC, the COIN price tested the support zone at $205 for the second time in the session. Buyers defended the level once again, preventing a breakdown. A few green candles followed between 18:45 UTC and 20:00 UTC, but the bounce lacked strength. Price hovered between $206 and $208 through the evening session, showing hesitation around support. In the final hours, from 21:00 UTC to 23:55 UTC, the Coinbase stock remained stable but weak. No major volume spike or pattern reversal occurred. The MACD histogram flattened out, and RSI stayed neutral, indicating a neutral movement heading into the next session.
What’s Next for Coinbase Stock After Holding Key Support?
The Coinbase Price ended the day just above the $205 support zone, a level that held firm despite heavy selling pressure in the afternoon. After a failed breakout near $214, the COIN Price slipped into a downward channel and printed two MACD death crosses, signaling fading bullish strength. Although buyers defended the lower boundary well, the lack of follow-through on the recovery suggests the upside is still limited. RSI moved out of the oversold zone but stayed weak, hovering below 50. This points to possible sideways movement unless a strong breakout occurs. For the Coinbase stock to regain bullish momentum, a clean push above $210 is critical. Until then, the price may be stuck in $205 and $214. Traders should be careful and look for either a change in volume or for a break above or below this range that ultimately leads to the next clear direction of price action.
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