Crypto Stock Posing Attractive Entry Point for Bulls
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Coinbase Global Inc (NASDAQ:COIN) stock has seen a significant decline from its record high of $444.64, exacerbated by a 16.7% drop following its August 1 earnings report. However, indicators suggest a potential bullish reversal, with historical data showing an 83% chance of a price increase one month after similar signals. Currently priced at $301.23, a rebound could see it rise to $340.69. The stock is also in oversold territory, with a 14-day RSI of 17, and a high put/call volume ratio indicates potential for short covering.
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