COIN (NASDAQ:COIN) Might Experience an Upside Reversal Soon

$COIN (NASDAQ: COIN) Forecast: May 3

The Coinbase Global (NASDAQ: COIN) market might experience an upside reversal soon as it is about to complete the dip-low movement and is on the verge of a correction phase.  The share price might rebound and turn upside from the $201.16 current support level if the bulls put more aggression on their buying purposes and all support levels remain unmoved. Hence, if all the current support holds and the bulls push higher, the price breakout may test the previous high at a $332.00 value to hit the $349.75 supply trend line, indicating capital inflow to the asset and increasing buying pressure.

Key Levels:
Resistance Levels: $320.00, $321.00, $322.00
Support Levels: $167.00, $166.00, $165.00

COIN Long-term Trend: Bullish (Daily Chart)

The $COIN market price has dropped a little but might experience an upside reversal, as it remains bullish despite a slight dip in its long-term outlook. The stock price is above the EMA-50, indicating upward momentum and the high impact of buyers in the market.
The sustained bullish pressure in the last session at the $203.04 supply value has enhanced the share price to remain above the supply trend levels in its recent low.

Meanwhile, the current price of NASDAQ: COIN at a $201.16 low value above the EMA-50 has not stale the market condition of the crypto as it remains in an uptrend. Thus, traders who buy the share at a lower price will also make gains in the future.

Meanwhile, the selling pressure on NASDAQ stock may be subsiding, potentially leading to a reversal at the $201.16 support level if buyers step in.

Thus, the $332.00 level might be touched, exposing the share price to a
$349.75 upper resistance level in the coming days as the $COIN price approaches the oversold region, suggesting continued buying pressure will resume soon in its long-term outlook.

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

The NASDAQ stock market is in a bullish posture in its medium-term view. The price is above the EMA-50, indicating a bullish momentum and the high impact of buyers in the market.
The sustained bullish pressure in the last few hours has made the stock price maintain its strength above the supply levels at its recent low.

The price drop to the $201.23 low value above the EMA-50 as the 4-hourly chart opens today, has no serious effect on the $COIN as the price remains in an uptrend.

Further, investors may seize the opportunity now and buy the share at a lower price, and look for more gains ahead.

Hence, the bullish momentum might be triggered and the price may likely increase to break up the $310.64 previous high value soon if the current support remains unmoved and the bulls should speed up their activities in the market.

Further, staying above the supply levels will give the NASDAQ: COIN price the tendency to experience a potential upside reversal at the $201.23 current support level.

Meanwhile, the NASDAQ stock market might finish the downward correction and start reversing soon as the market approaches the oversold.

If this is achieved by the long-term investors, the recovery rally may reach the $349.75 upper high value in the coming days in its medium-term perspective.

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