Coinbase (COIN) approaching the $400 mark is a critical juncture that reflects both strong momentum in the crypto space and heightened risk. Fundamentally, the company is benefiting from increased institutional adoption, growing revenue from custody and Layer-2 activity (like Base), and a broader crypto rebound. However, at $400, much of this optimism may already be priced in. Technically, this level aligns with key resistance from its 2021 IPO highs, and unless there’s a strong breakout with volume, the risk of a pullback is high—especially with overbought indicators flashing. For short-term traders, this could be a good point to de-risk or trail stops, while long-term holders may choose to ride the macro crypto thesis, knowing volatility is part of the journey.
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