COIN (NASDAQ:COIN) on the Verge of an Upside Reversal

$COIN (NASDAQ: COIN) Forecast: March 15

The Coinbase Global (NASDAQ: COIN) is on the verge of an upside reversal. The stock market is about completing the downward movement and is on the edge of a correction phase. This reversal pattern could assist stock buyers to revisit the $349.75 neckline barrier and remain stable at the upside. Therefore, should the bulls add more pressure to the buying momentum, the share price may reverse from the 24-hour low of $179.69 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: $288.00, $289.00, $290.00
Support Levels: $162.00, $161.00, $160.00

COIN Long-term Trend: Bearish (Daily Chart)

NASDAQ: The COIN market is on the verge of an upside reversal and has a bearish posture in the long term perspective. The price is below the moving average line, indicating a downward trend and the high impact of sellers in the market.
The sustained bearish pressure at a $183.75 low value in the last session has made the stock market remain below the supply trend levels at its recent low. Hence, the share market is oversold and is on the verge of an upside reversal.

The $COIN price dropped even further today, reaching a low of $179.69 below the supply level due to selling traders’ action. Meanwhile, buyers could use this opportunity to purchase the stock at a discount and make a bigger profit later.

However, if a renewed surge in buyers’ interest occurs, the NASDAQ: COIN price may undergo an upside reversal at the $179.69 low level to retest the prior high of $349.75 level, providing stock purchasers with great recovery potential.

In conclusion, the NASDAQ stock price is on the verge of an upside reversal as the market has fallen to the oversold region of the daily stochastic, implying that the selling pressure will end soon and may compel buyers to resume sooner.

As a result, 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)

The $COIN price on the medium-term chart shows a downward movement and is still on the verge of an upside reversal. The price continues to make lower highs and lower lows below the supply level, suggesting a bearish trend.
The market price of NASDAQ: COIN drops further to a $179.74 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.

Furthermore, the $COIN price has fallen below the 20% zone of the daily stochastic, suggesting that an upside reversal is about to occur; the selling pressure is probably coming to an end because the share is currently trading at the market’s oversold territory.

The emergence of buyers in the oversold region of the market is imminent. In light of this, the NASDAQ stock 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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