Bitcoin‘s (CRYPTO: BTC) tumble below $80,000 sent shockwaves through crypto-related stocks on Monday, with names like Coinbase Global Inc (NASDAQ:COIN), Robinhood Markets Inc (NASDAQ:HOOD), MARA Holdings Inc (NASDAQ:MARA) and Riot Platforms Inc (NASDAQ:RIOT) all taking a hit in early trading.
But as the dust settles, traders are scanning the charts for signs of opportunity.
Coinbase Global: A Bearish Trend, But Signs Of Life?
Coinbase stock slipped over 10.5% during early trading (by 10:30 AM) on Monday, weighed down by Bitcoin’s slump and a disappointing White House Crypto Summit. Adding insult to injury, the stock was passed over for inclusion in the S&P 500, a move that could have triggered institutional inflows.
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Technically, Coinbase stock is flashing bearish signals across multiple time frames. The stock is trading below its eight-day ($211.20), 20-day ($237.59), …
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