#Coinbase $COIN – Monthly Chart Analysis

The monthly structure suggests a completed corrective move followed by a strong impulsive rally into a major supply zone (~350–400). Price faced heavy rejection from this zone, signaling distribution at higher levels. The sharp bearish candles indicate loss of momentum and a potential trend reversal or extended correction.

If selling pressure continues, price may gravitate toward the lower demand zones around ~80 and ~20, aligning with the broader ABC corrective structure. Overall bias remains bearish unless price reclaims and holds above the supply zone on a monthly closing basis.