For Coinbase as a company, we should take a different perspective when evaluating its fair value. I don't think we can use Bitcoin price as a benchmark or surrogate marker of its value. Given the interests in crypto trading, the potential of Coinbase and similar exchanges is huge.
Looking back at almost 2 months' price movement of Coinbase, it seems to be trying to find the floor to pivot and rebound. Volume wise has fizzled, may indicate less volatility.
Immediately still downtrend until the price can stay above last Friday's low.
If it can break above 230, there's a chance for it to reach next resistance around 245-250 range. If price breaks below last Friday's low 228, immediate support at 224 (in hourly chart) or even challenge previous low at 208.
Looking back at almost 2 months' price movement of Coinbase, it seems to be trying to find the floor to pivot and rebound. Volume wise has fizzled, may indicate less volatility.
Immediately still downtrend until the price can stay above last Friday's low.
If it can break above 230, there's a chance for it to reach next resistance around 245-250 range. If price breaks below last Friday's low 228, immediate support at 224 (in hourly chart) or even challenge previous low at 208.