COIN GEX - Bounce from multi-year lowsCoinbase Global, Inc. Class ABATS:COINTanukiTradeCOIN is showing a sharp daily rebound after testing the 150 – P1 put cluster, currently trading near 162.5 after a +6.6% session. On the weekly chart, price is bouncing from a support zone in the 150–155 area that has now been touched four separate times in this cycle — a repeated reaction zone that strengthens the case for structural support here, even though no level guarantees a hold. The bounce aligns with the strongest put GEX concentration on the profile, while the broader structure remains compressed between major option walls. 🔶 Regime Context 🔶 Price is still trading below HVL at 162.5, keeping COIN inside a negative GEX regime — price action tends to stay more reactive until HVL is reclaimed and accepted. 🔶 Options Structure Context 🔶 👉 167.5 – C1 (highest call NETGEX wall) 👉 170 – C2 (next call resistance above C1) With price rebounding from P1 but still below HVL, the immediate upside path runs toward the 162.5 HVL zone first, then the 170 call wall if momentum extends. 🔶 Downside Structure 🔶 👉 150 – P1 / nPOI / POI (strongest put cluster — bounce origin) Confluence at 150: P1 — highest put NETGEX POI — major put open interest POI — put open interest peak That makes 150 a clear reaction zone — not just a round number, and now reinforced by the fourth weekly touch at this support band. 🔶 Options Sentiment 🔶 CALL$ 37.3% (39 DTE) means call options at an equivalent distance from spot are priced 37.3% higher than the corresponding puts — moderate call pricing skew. IVRank 65.9 IVx 80.1 (39 DTE) | IVx 5dCh +8.5% CALL$ 37.3% (39 DTE) — call pricing skew Implied move ±6.46% (±10.5) 🔶 Key Structure to Watch 🔶 For now, COIN is bouncing from a fourth weekly test of a major support band that aligns with the P1 put cluster. The key question is whether price can reclaim and hold above HVL at 162.5 — or whether the negative GEX regime keeps price reactive between 150 support and the 167.5 call wall.