COIN (NASDAQ:COIN) Begins Its Uphill Trend

$COIN (NASDAQ: COIN) Forecast: March 3

The Coinbase Global (NASDAQ: COIN) market price updating the lows as usual, begins its uphill trend with a positive performance touching a daily high of $216.44 earlier today. The pullback is due to the broader upward movement and a positive shift in the stock market conditions. Hence, if all support levels hold and resistance breaks out of the $302.40 level, a shift and further change in the share price to retest the $349.75 prior peak value high is possible, and might perhaps rise as high as the $360.00 upper resistance level, signaling increased buying activity.

Key Levels:
Resistance Levels: $298.00, $299.00, $300.00
Support Levels: $169.00, $168.00, $167.00

COIN Long-term Trend: Bearish (Daily Chart)

The $COIN market is currently in a negative area, as it begins its uphill trend with the stock price trading below the supply levels, confirming its bearishness, due to the inflow from sell traders.
The bears’ pressure caused the share price to drop below the supply trend lines, reaching a low of $207.79 in the last session. However, it seems the bulls are about to take the lead and push us upward, as it begins its uphill momentum in its recent price level.

The NASDAQ stock market began its uphill trend as the bulls pulled back to a $216.44 high mark below the EMA-50 as the daily chart opens today.

However, if a renewed surge in stock buyers occurs, the $COIN price might experience a notable surge to hit the $349.75 prior supply value, signaling the potential for significant gains as the up-north journey resumes.

Additionally, the daily stochastic indicates an uptrend by pointing upwards.
Hence, there is a tendency for the NASDAQ: COIN price to rise above the crucial supply if the support level at $207.79 holds.

In light of this, the shareholders might drive the stock price to a high of $360.00 upper resistance level in the coming days in its long-term perspective.

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

The stock market is below the moving averages, suggesting a bearish market sentiment in its medium-term view. Thus, the $COIN is correcting as it begins its uphill trend, aiming to rally higher.
Actions from the short traders at a $207.79 low point in the last few hours have dropped the share price beneath the supply trend lines in its recent correction.

A rise or a price retracement to a $216.11 high level by the bulls shortly after the 4-hour opens today affirms the returns of the long traders into the stock market, leaning towards a bullish trend.

Thus, the share price will advance if the bulls can redouble their efforts and push above the current supply level.

Hence, the stochastic oscillator pointing up suggests an uptrend. Thus, the NASDAQ: COIN price might surge to retest the $349.75 prior supply level and increase to a $360.00 upper supply level in the coming days in its medium-term forecast.

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