Coinbase Stock Pulls Back After 31.8% Surge, Trend Verification Continues

Coinbase's stock price has surged by 31.8% over the past 20 sessions, rallying from $146.23 to a swing high of $192.7 before pulling back to its current close of $172.11.

The pullback is significant, as it has caused Coinbase's stock to slip below the MA120 and S2 pivot levels, leaving it between the MA50 and MA120 moving averages.

However, despite this setback, technical indicators suggest that the trend may still be in its verification phase, rather than a reversal. The MACD momentum is negative, but the RSI is near the midline, indicating a potential for recovery.

The fund flow data also shows net outflows across all tiers, which could be a sign of caution for investors. Nevertheless, price and volume confirmation are still needed to determine whether this trend will continue or reverse.