Shares of Coinbase Global ( COIN) are weak Monday and traders should be prepared for further price weakness in the weeks ahead. Let's check the charts and indicators. 
In this daily bar chart of COIN, below, we can see some interesting developments. Prices declined sharply into a May nadir. Trading volume spiked sharply higher telling us there may have been a change of ownership with shares moving from weak hands to stronger hands. Prices rebounded slightly and then retested the May low. A rally got moving upwards in August but it did not last long.
Trading volume increased into early August and the daily On-Balance-Volume (OBV) line made a strong move up into August telling us that buyers of COIN were more aggressive than sellers. The Moving Average Convergence Divergence (MACD) oscillator improved to a buy signal but has quickly turned neutral.
In this weekly Japanese candlestick chart of COIN, below, we can see a lower shadow in early May marking a low and an upper shadow in August marking a high. Prices are in a longer-term downtrend below the declining 40-week moving average line.
The weekly OBV line is a long-term downward move and tells us that sellers of COIN are more aggressive than buyers. The MACD oscillator is bearish.
In this daily Point and Figure chart of COIN, below, we can see a downside price target in the $54 area.
In this weekly Point and Figure chart of COIN, below, we can see an upside price target in the $135 area. A trade at $61 will weaken this chart.
Bottom line strategy: It looks like the path of least resistance on COIN is down. Avoid the long side of this stock.
