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Coinbase Global’s stock price (COIN) fell in the intraday levels after touching the 50-day SMA resistance, while testing the downward correctional short-term trend line, as the stock managed to vent off oversold saturation in the RSI in recent trading.
Therefore we expect more losses for the stock, targeting the support of $187.40, provided the resistance of $238.67 holds on.
Trend forecast: Bearish