COIN (NASDAQ:COIN) on the Verge of a Potential Reversal

$COIN (NASDAQ: COIN) Forecast: March 12

The Coinbase Global (NASDAQ: COIN) market is on the verge of a potential reversal and could see another uptrend. The stock market is about completing the downward movement and is on the verge of a correction phase. This reversal pattern could assist shareholders in revisiting the $349.75 neckline barrier and remaining stable at the upside. Therefore, should the bulls add more pressure to the buying momentum on the stock, the price may reverse to the bullish pattern, and its upside moves could extend to a $360.00 upper resistance level, indicating a high potential for the shareholders.

Key Levels:
Resistance Levels: $298.00, $299.00, $300.00
Support Levels: $175.00, $174.00, $173.00

COIN Long-term Trend: Bearish (Daily Chart)

NASDAQ: The COIN market is on the verge of a potential reversal and has a bearish long-term perspective. The price is below the EMA-50, indicating downward momentum and the high impact of sellers in the market.
The sustained bearish pressure to the $213.00 support level before the end of the last session has dropped the stock price below the supply levels in its recent low.

Hence, the share market is now oversold and is on the verge of a potential reversal.

The $COIN price dropped even further today, reaching a low of $176.85 beneath the moving average due to buyers’ actions.

Meanwhile, buyers could take advantage of this to purchase NASDAQ stock at a discount and make a bigger profit later on.

However, if a renewed surge in investors’ interest occurs, the stock price may undergo an upside reversal at the $176.85 low level to retest the prior high of $349.75, providing shareholders with great recovery potential.

In conclusion, the NASDAQ stock is on the verge of a potential reversal, as the market has fallen to the oversold region of the daily stochastic, suggesting that the selling pressure is unlikely and will compel buyers to resume sooner.

Hence, the bullish corrective pattern may extend to the $360.00 high mark in the coming days in its long-term perspective.

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

On the medium-term chart, the $COIN price is showing a downward movement and is still on the verge of a potential reversal. This is evident as the stock price remains below the supply levels.
The stock market price drops to a $176.84 low mark below the moving averages as the 4-hourly session opens today due to low bullish momentum. Meanwhile, traders who buy the stock during a bearish market will also make gains in the future.

In addition, the price of the NASDAQ: COIN pair has dropped below the daily stochastic’s 10% zone, indicating that a potential reversal is imminent, implying that the stock price is trading in the oversold area of the market, suggesting that the selling pressure will end soon.

Hence, the emergence of buyers in the oversold region of the market is imminent. In light of this, the $COIN price may reverse and pump or spike higher to reach the $360.00 upper resistance level in the days ahead in its medium-term forecast.

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