Coinbase Reports $394M Loss in Q1 Amid AWS Outage
- Consecutive Losses: Coinbase reported a net loss of $394 million in Q1, a stark contrast to a profit of $66 million in the same quarter last year, highlighting the severe impact of the bear market on its spot trading volumes and increasing financial pressure on the company.
- Market Share Growth: Despite the losses, Coinbase's global market share reached an all-time high of 8.6% in Q1, indicating that the company still possesses a significant appeal and customer base in the highly competitive crypto market.
- Surge in Service Revenue: In Q1, subscription and service revenue soared to $584 million, accounting for 44% of total revenue, demonstrating the company's successful pivot away from retail trading dependence to mitigate risks associated with market fluctuations.
- Impact of Technical Outage: Coinbase experienced a 6-hour outage due to AWS issues at the end of Q1, preventing traders from closing positions and resulting in tens of millions of dollars in losses, underscoring the risks associated with reliance on technological infrastructure.
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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 crypto.
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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