COIN (NASDAQ:COIN) Anticipates an Upside Reversal
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COIN (NASDAQ:COIN) Anticipates an Upside Reversal

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Azeez Mustapha

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$COIN (NASDQ: COIN) Forecast: January 27

Today, the $COIN price anticipates an upside reversal as the stock market may take a bullish turnaround soon. The selling pressure may subside, and the stock price could be ready for an upbeat movement. Based on the outlook, a positive breakout confirmation reflecting the elevated market sentiment will occur should the bulls go higher and trade hands with the short traders at $297.62 and turn the share price positive to hit the $349.75 barrier line. Doing so will offer a higher footing for buyers to prolong this recovery, reaching the $380.00 upper resistance level and obtaining a higher footing to rise higher.

Key Levels:
Resistance Levels: $340.00, $339.00, $338.00
Support Levels: $165.00, $164.00, $163.00

COIN Long-term Trend: Bullish (Daily Chart)

The long-term market value of $COIN is poised for an upside reversal as it remains on top. The market structure shows that the bulls may take over the trend as they remain dominant despite the moves from the bears. The price bar is above the EMA-50, indicating an uptrend.
COIN (NASDAQ:COIN) Anticipates an Upside ReversalThe pressure from long-term traders to a $303.56 high value in the last session adds to the bullish impact on the market.

Actions from the short traders dropped the NASDAQ: COIN price to a low of $297.62 as the daily chart opens today, as the bulls anticipate an upside reversal.

Hence, buyers must step up their efforts to predict a bullish rise in the market above the $349.75 supply level.

Notably, the daily stochastic is approaching the oversold region, suggesting the $COIN market selling pressure will subside sooner. As a result, buyers can extend this recovery and reach the upper resistance level of $380.00, giving them a higher platform to prolong this recovery in its long-term perspective.

COIN Medium-term Trend: Bullish (4H Chart)

NASDAQ: COIN price anticipates an upside reversal in its medium-term outlook. The share market remains bullish despite the influence of the short traders.
COIN (NASDAQ:COIN) Anticipates an Upside ReversalMeanwhile, the bullish momentum may continue as the bulls remain dominant.
The market price is above the moving averages, implying buyers are gaining more strength in the stock investment.

The shares have had a series of higher highs and higher lows in the past few hours, which have sustained the bullish impact on the stock market.

Meanwhile, the price of $COIN anticipates an upside reversal as the bears drop the share price to a $297.62 low value above the supply trend lines as the 4-hourly chart commences today.

However, this has not stale the market condition of the share as it remains intact in an uptrend. Further, investors may seize the opportunity to buy the stock at a lower price and look for more gains.

Thus, staying above the resistance levels will give the stock market the tendency to rise further as it anticipates an upside reversal.

Therefore, buyers must redouble their efforts to forecast a bullish increase in the market above the $349.75 barrier line. Thus, if the stock price closes above this level, it would be a turnaround for buy trades.

Further, staying above the supply levels will give the NASDAQ: COIN price the tendency to experience an upside reversal at the $297.62 current support level.

As a result, the stock price may turn upside to hit the $380.00 upper high mark soon in its medium-term perspective.

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