COIN (NASDAQ:COIN) Bullish Momentum Emerged
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COIN (NASDAQ:COIN) Bullish Momentum Emerged

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Azeez Mustapha

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$COIN (NASDAQ: COIN) Forecast: January 14

Today, Coinbase Global (NASDAQ: COIN) experienced bullish momentum as the bulls drove the stock price to an intraday high of $251.38 below the supply level, indicating a fundamental increase. The increase is due to the broader upward movement and a positive shift in the stock market. Thus, a bullish breakout past the previous high of $392.16 may set eyes on the next resistance level at $405.88 before attempting another rally, signaling increased buying activity.

Key Levels:
Resistance Levels: $361.00, $362.00, $363.00
Support Levels:     $236.00, $235.00, $234.00

COIN Long-term Trend: Bearish (Daily Chart)

On the daily chart, the $COIN market bullish momentum emerged with a bullish sentiment after updating the downward movements.

COIN (NASDAQ:COIN) Bullish Momentum Emerged

The stock price is moving towards the resistance line, indicating a bearish trend.

The bears’ sustained rally to a $237.15 low point during yesterday’s session has slowed the price action in recent times.

The share is recovering from the recent correction as fresh buying emerges near the supply level following the upward race.

The buy traders pushed the market price of NASDAQ:COIN to a $251.38 resistance value slightly below the EMA-50 shortly after the daily chart begins.

However, with high buying pressure and positive sentiment, the share has the potential to reach the previous supply of $398.16 and attract more investors.

Additionally, the NASDAQ stock price may continue to show a fundamental increase and attract more investors, as indicated by the daily stochastic, pointing up.

In light of this, the bulls could aim for the psychological level of $405.00 upper resistance value, as bullish momentum progresses, attracting more buyers in its higher time frame.

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

In the medium term, the stock market indicates that bullish momentum has emerged again.
COIN (NASDAQ:COIN) Bullish Momentum Emerged The price is trending slightly below the resistance levels, suggesting a bearish market.

Thus, the $COIN is correcting as it begins its uphill trend, aiming to rally higher.

The bears’ drop to a $242.57 low value below the moving averages in the past action has retained the share price below the supply level in its recent correction.

Today, on the 4-hourly chart, bullish momentum emerged as the NASDAQ:COIN price rises to the $251.33 high mark, indicating growing confidence among buyers.

Therefore, if the bulls can intensify their efforts, a possible breakout from the present resistance to the prior peak supply of $389.56 will provide evidence for a positive recovery.

Notably, the market price of NASDAQ stock is pointing up on the daily stochastic, suggesting that the momentum in the share price may remain and continue in an upward move.

As a result, the stock market value may surge to an upper resistance level of $405.88 in the coming days.

Customers of Coinbase can purchase, sell, convert, send, receive, or store these assets by logging in.


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