COIN — Macro range, retesting the floor Coinbase Global, Inc. Class ABATS:COINsergiuuuuuCOIN is back at 140-180 zone after a full round trip from the 2025 highs, and the only level that matters here is around 140 That shelf has been the base of the entire post-2024 range and has held every test since. The template is the 2022–2023 base. Same shape: a long, boring range, months of no expansion, everyone bored out of the name, then a reclaim of the range high that ran three-plus times off the lows. What's forming now is the same structure one degree higher. The correlation is the whole thesis. COIN is a leveraged proxy on transaction volume, so it doesn't bottom independently of the underlying. BTC and ETH are both parked on their own higher-timeframe demand right now, and COIN sitting on 146 at the same time is not a coincidence — it's the same trade expressed with equity beta. If crypto holds these zones, COIN's floor holds. If BTC loses its demand block, 140 goes with it. COIN's revenue mix today leans more on subscriptions, USDC, and Base than it did in 2022, so the beta to spot volume is lower than the last cycle. That cuts both ways: shallower downside, but also a slower move on the way up. Forward catalysts: Sept 2026 (uncertain) - Possible CLARITY Act Senate floor vote, Would create the dual SEC/CFTC market-structure framework directly governing Coinbase's core business. 2026-10-18 (approx.) - GENIUS Act stablecoin rulemaking comment period closes. Sets final USDC issuer-licensing rules ahead of Jan 2027 effective date — directly affects Circle/USDC, Coinbase's largest subscription-revenue partner. [Q3'26 earnings Early Nov 2026 (est.) DISCLAMER: This is not a financial advice, do you own study before making a decision on the real market