Coinbase Stock Price Rally Putting in Bearish Reversal?
Chris Kimble | Mar 07, 2024 21:21
The past 15 months have been very good for Coinbase's (NASDAQ:COIN) stock price.
During that time, COIN has rallied from $31 to over $230. And the rally has seen some wild volatility.
Today’s “weekly” chart of Coinbase highlights this and more. As you can see, COIN has been in a wide up-trend channel for the past 15 months. And it recently touched the top of the channel at (1) before reversing lower.
This is not an ideal price point for high-flying Coinbase stock price to create a bearish reversal.
Should the price finish the month here or lower, it would send a cautionary message to Coinbase stock bulls.
A breakout here would be very bullish for the stock.
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