Coinbase Bitcoin Premium Remains Negative for a Week Amid Weak U.S. Demand
Negative Coinbase Premium: The Coinbase Bitcoin premium has been negative for seven days, indicating weaker U.S. spot demand as prices trade at a discount compared to global averages.
Year-End Selling Pressure: U.S. traders are engaging in portfolio rebalancing, profit-taking, and tax-loss harvesting, contributing to the negative premium, while Asian traders are buying Bitcoin on dips.
Historical Patterns: Similar U.S. selling and Asian buying patterns have been observed in previous years, such as 2019 and 2020, often leading to price increases after Western selling pressure subsides.
Market Sentiment Indicator: The negative Coinbase premium reflects reduced institutional buying activity in the U.S. and serves as a sentiment indicator for demand across different regions, with a positive premium indicating strong buying pressure.
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Technical Analysis for STABLE
Technical Sentiment Analysis for (STABLE) As of , (STABLE) is exhibiting a Strong buy technical sentiment. Our proprietary analysis, which aggregates 6 technical signals, shows that 5 indicators are flashing buy, while 1 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for STABLE 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, STABLE 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 $-.
(STABLE) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | -0.00246 | 0.00654 | 0.0147 | 0.0237 | 0.0319 | 0.0409 | 0.0491 |
| Fibonacci | 0.00654 | 0.0131 | 0.0172 | 0.0237 | 0.0303 | 0.0343 | 0.0409 |
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