The past 15 months have been very good to Coinbase (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 price finish the month here or lower, it would send a cautionary message to Coinbase stock bulls! Stay tuned!
Coinbase (COIN) “weekly” Price Chart
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The author may have a position in mentioned securities. Any opinions expressed herein are solely those of the author, and do not in any way represent the views or opinions of any other person or entity.
