Coinbase’s share price continues to its negative performance and is heading towards its lowest levels since June and is also close to returning to its lowest levels since the IPO at $40.83. COIN share is being traded below the short and long-term exponential moving averages, while neither the RSI nor the MACD indicates a possible bullish reversal now.
On the daily chart, if the COIN share price fails to hold above the $44.15 support level, we may witness a return to the all-time low of 40.83.
But in the opposite case, if the COIN share price manages to recover the $52.63 level, the previous downside hypothesis may be violated, and we may witness a return of COIN share price towards the level of $63.43.
The $75 level remains the most difficult upper target at the moment with the very poor technical condition of COIN share – considering the creepy fundamental conditions of crypto market.
On the daily chart, if the COIN share price fails to hold above the $44.15 support level, we may witness a return to the all-time low of 40.83.
But in the opposite case, if the COIN share price manages to recover the $52.63 level, the previous downside hypothesis may be violated, and we may witness a return of COIN share price towards the level of $63.43.
The $75 level remains the most difficult upper target at the moment with the very poor technical condition of COIN share – considering the creepy fundamental conditions of crypto market.
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