Coinbase emits signs of weakness - Analysis - 19-09-2023

Coinbase Global's stock (COIN) fell in the intraday levels, amid negative pressure from the 50-day SMA, with negative signals from the RSI after reaching overbought levels compared to the stock's movements, hinting at negative divergence, while the stock trades alongside the upward correctional trend line in the short  term.

Therefore we expect more losses for the stock, targeting the support of 72.25, provided the resistance of 87.63 holds on.

Expected trend for today: Bearish