COIN (NASDAQ:COIN) Makes a Buy Trade Set-up at $213.60 Price Level

$COIN (NASDAQ: COIN) Forecast: May 14

Today, the Coinbase Global (NASDAQ: COIN) market makes a buy trade set-up at the $213.60 price level as it witnessed a substantial increase in its value over the past few hours, marking a significant bullish trend. The share is witnessing a renewed recovery sentiment among investors. If the stock price could sustain above the pattern supply trend line at the $327.24 level, the price may trigger up to the overhead resistance mark at the $349.75 level, attracting more stock buyers and obtaining a higher footing to rise higher.

Key Levels:
Resistance Levels: $300.00, $302.00, $304.00
Support Levels: $168.00, $167.00, $166.00

COIN Long-term Trend: Bullish (Daily Chart)

The NASDAQ stock price depicts a buy trade set-up at the $213.60 daily price level as it moves sharply above the resistance level in the long-term perspective.
The share price makes a buy trade set-up while trading above the EMA-50, indicating a significant bullish trend.

The stock market appears attractive to buyers at its recent high due to the bulls’ persistent order flow to the $210.47 supply in the last session.

Today, the $COIN market looks promising as it rises to a $213.60 resistance mark above the EMA-50 amid soaring network activity.

Hence, an upside breakout above the $327.24 mark with a daily candle closing will offer buyers a solid foothold to push the share price higher, offering a good entry opportunity for shareholders.

Further, the NASDAQ: COIN price may continue to make a buy trade set-up as suggested by the daily stochastic pointing in an upward direction. In light of this, the share price may reach the $349.75 upper resistance trend mark in the days ahead in its long-term outlook.

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

On the 1-hour chart, the NASDAQ: COIN price makes a buy trade set-up as it remains in a bullish market zone. The price currently trades above the EMA-50 and is trending towards the upper resistance area.
The high bullish impact on stock at the $210.46 high level in the previous session has contributed to its buy trade set-up in its recent high.

At press time today, the Bull Run caused the price of $COIN to rise and made a buy trade set-up to a high of $213.56 above the moving average. Thus, the current trend will allow the share price to remain in the positive territory and rise or break out into the positive territory.

Thus, a possible breakout from the $213.56 neckline will accelerate the buying momentum and push the share price to hit a $302.40 previous high barrier, bolstering more buying pressure on the stock to the upper resistance levels.

Additionally, the price of NASDAQ stock pointing upwards on the daily stochastic suggests the buy trade set-up may continue and move the price action to hit the $349.75 upper resistance level, as the share price indicates a buy trade set-up in its medium-term perspective.

Trade your favorite stocks using a premium broker. Open an account here