Coinbase Global, Inc. (COIN) edged cautiously higher in recent intraday trading, but negative pressure continues to dominate as the stock remains below its 50-day Simple Moving Average (SMA), reinforcing the stability and dominance of the primary medium-term bearish trend. Price action also continues to follow a descending trendline that supports the current downtrend. Meanwhile, momentum indicators are generating bearish signals after forming a bearish divergence following an excessively overbought reading relative to the stock's price action, adding further downside pressure.

Therefore, our outlook remains tilted to the downside for the stock's upcoming trading sessions, as long as resistance at $186.35 remains intact. Under this scenario, the stock is expected to target the key support level at $139.35.

Today's price forecast: Bearish.