COIN has been trading below its 50-day simple moving average (SMA), signaling a short-term bearish trend. The stock closed at $268.15 as of Dec 23, 2024, down 23% from its 52-week high of $349.75.

Hence, some follow-through strength towards challenging the very important 200-day Simple Moving Average (SMA), currently pegged near the 0.6470 area, looks like a distinct possibility.