$COIN is starting to look constructive on the 1H timeframe.

After the heavy selloff from the 200+ region down to the 134 low, price spent time stabilizing and forming a base. That 134 zone clearly acted as strong demand — sharp rejection and immediate recovery followed.

Now price is trading around 171 and, more importantly, it has reclaimed the short-term moving averages:

• MA5 is above MA10
• MA10 is curling upward
• Price is holding above MA30

That alignment suggests short-term momentum has shifted bullish.

Structure-wise, we’re no longer printing aggressive lower lows. Instead, we’re seeing:

• Higher lows forming
• Compression under resistance
• Strong bullish candles on recent push

The immediate resistance zone sits around 172–175. A clean breakout and sustained hold above that range opens room toward 185 next, where previous distribution happened.

On the downside, 160–162 becomes key support. If price falls back below that region and loses MA30 decisively, this move could turn into another lower high inside a broader downtrend.

For now, this looks like early trend recovery — not full reversal yet, but momentum is clearly improving. The next breakout attempt above 175 will define whether this is continuation or just another bounce.

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