Coinbase Inc. (NASDAQ:COIN) has opened its app for registrations in India as it resumes expansion in the country even as COIN struggles to hold a technical support level.
Coinbase Reopens Access In India And Plans Fiat On-Ramp
After more than two years of restrictions, Coinbase has begun onboarding Indian users again, allowing access to cryptocurrency trading pairs while it works to restore full functionality.
Speaking at India Blockchain Week, regional head John O'Loghlen said the company aims to launch a fiat on-ramp in 2026 to enable users to load funds and purchase cryptocurrency directly.
Coinbase originally entered India in 2022 but paused services after the National Payments Corporation of India did not recognize the company's integration with the Unified Payments Interface network.
The firm eventually exited the market, asking users to close accounts and withdraw assets.
O'Loghlen said the company "burned the boats" by off-boarding users in 2023 to reset the regulatory relationship, even though it meant losing millions of accounts.
Coinbase later engaged with the Financial Intelligence Unit and registered this year, enabling it to restart onboarding in October and now open access more broadly.
India's Rules Make Adoption Difficult But Coinbase Invests Heavily
India imposes a 30% tax on cryptocurrency income, including Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), with no loss offsets and a 1% tax deducted at source (TDS) on every trade.
Market participants say the structure discourages active trading and reduces liquidity, especially for new users.
O'Loghlen said he hopes regulators will reduce the burden to encourage participation and long-term holding.
Despite the constraints, Coinbase is continuing to invest in the region.
Its venture arm added capital to local exchange CoinDCX at a $2.45 billion valuation, while the company plans to expand its more than 500-person workforce by hiring for global and domestic roles.
Price Structure Still Bearish Despite Pre-Market Bounce
COIN Price Prediction As Of December 8 (Source: TradingView)
COIN closed last week at $269.73, down 1.58%, after failing to break above short-term resistance on the daily chart.
Pre-market trading on Monday lifted shares to $276.24, up 2.41%, suggesting early buying interest.
However, traders say pre-market bids have repeatedly faded once full trading volume returns.
The stock remains below the 50-day, 100-day, and 200-day EMA's, which are stacked above the price.
Support At $260 Is Critical As Downtrend Persists
COIN continues to trade inside a broad descending structure that has rejected every rally since July.
Short-term support sits near $260–265, an area buyers have defended multiple times.
A break below that level increases the probability of a move toward $236, which sparked the last confirmed bounce.
To change sentiment, price would need to reclaim $300 and close above $306, which aligns with the 200-day moving average.
Without that shift, rallies are more likely to be sold into rather than sustained.
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