Coinbase Set to Compete with Polymarket and Kalshi by Launching Its Own Prediction Market
Coinbase's New Offerings: Coinbase Global Inc. is set to launch prediction markets and tokenized equities, developed in-house, with a livestream event scheduled for December 17, although specific details remain unconfirmed.
Market Competition: The move positions Coinbase among competitors like Kalshi and Polymarket in the prediction market space, as other platforms like Gemini and Crypto.com also expand their offerings to diversify revenue streams amid regulatory changes.
Stock Performance: Coinbase's stock (COIN) closed down 2.21% at $269, with attempts to stabilize above the $264 support level, but the overall trend remains bearish, with key resistance levels identified.
Technical Analysis: The stock is currently trading between Fibonacci levels, indicating indecision, and a sustained move above $275 could signal a shift in momentum, while a break above $292 is necessary to challenge the larger downtrend.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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