COIN bounced off support; needs to break above 200-day MA (~195) and clear 220 resistance for further upside.

The third the uh the first one of the two is Coinbase and Coinbase we actually highlighted in our um our last uh uh monthly review and uh in uh for August, right? Top 10 charts to watch for August.

And we wanted to highlight that because the stock was coming down to test key support. What we talked about in that last video is that uh we had a low in February around 140. We retested that low at the end of June.

We retested that low again at the end of July. So going into the month of August, you know, we're potentially testing support yet again. So am I, you know, happy or comfortable taking a bet that maybe that support holds yet again and that buyers come in?

And that's what we talked about as a potential uh idea at the beginning of August. Sure enough, actually played out pretty well. And I wanted to highlight the fact that we did indeed bounce off of support.

I think some of those classic kind of foundational principles of technical analysis like support and resistance still very much relevant here in August and September of 2026, right?

I mean, I think those those sort of approaches still work. So looking for stocks that are approaching a key established support level like we saw in Coinbase at the beginning of August, I think still holds true.

Now that we've bounced higher, I think going into September, the question is, do we get enough of a follow-through? We are now testing the 200 day moving average. We broke below the 200 day last November and we've been below it this whole time.

Do we finally get enough MO to get above there? Can we follow through above the March, April, May highs, which are all kind of in the 215 to 220 range. So, I would say getting above 195 would be the breakout above the 200 day.

Following through above 220 would clear that resistance and really suggest further appreciation.

Now, Coinbase of course is very much tied to the crypto space. So, keep an eye on the charts of Bitcoin and Ethereum. Overall, those are holding up pretty well. But if there's weakness in those charts, of course, expect that to generally be reflected on the charted Coinbase.

But I would say for now, bouncing off of support and holding that pretty well. Now, it's a question of do we follow through to the upside.