COIN (NASDAQ:COIN) Poised for an Upside Reversal

$COIN (NASDAQ: COIN) Forecast: February 3

The Coinbase Global (NASDAQ: COIN) market is poised for an upside reversal due to a slight downturn, ending very soon. However, the share price could experience a turnaround to begin its bullish ride. Based on the outlook, if a renewed surge in buyer interest occurs, the NASDAQ stock market price might turn positive to surpass the $349.75 previous barrier, obtaining a higher footing to rise higher.

Key Levels:
Resistance Levels: $320.00, $321.00, $322.00
Support Levels: $165.00, $164.00, $163.00

COIN Long-term Trend: Bullish (Daily Chart)

The $COIN market has experienced a slight dip. It is poised for an upside reversal to begin its bullish trend, gearing for more gains as the bulls remain dominant in its higher time frame. The stock price is above the EMA-50, depicting a bullish trend.
The sustained bullish pressure at a $306.00 high level in the last session has made the share price remain above the supply trend levels at its recent high.

At press time, the NASDAQ: COIN price is poised for an upside reversal at the $287.22 support level as it remains above the resistance trend line, suggesting a bullish trend,and has not stale the market condition of the stock as it remains intact.

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

Hence, to predict a bullish rise in the market above the $349.75 supply level, buyers must step up their efforts.

In addition, staying above the supply levels will tend to cause the $COIN price to experience an upside reversal at the $287.22 current support level.

As a result, the stock price may turn upside to hit the $370.00 upper high mark soon, suggesting a good entry point for shareholders in its long-term perspective.

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

The NASDAQ: COIN market price is poised for an upside reversal and also targets the overhead resistance as the bulls remains dominant in the medium-term outlook. Despite the bearish move, the stock price is above the supply levels, suggesting a bullish trend.
The bull’s high order flow to a $305.03 resistance level in the last session has contributed to the share’s strength in its recent high.

Today, the $COIN market is poised for an upside reversal as the bears turned the share price to a low at $287.22 support level above the supply levels, indicating bullish momentum.

Hence, if a renewed surge in buying interest occurs, the stock price might turn positive to surpass the $349.75 peak barrier, potentially leading the $COIN market towards the targeted area.

Additionally, the NASDAQ stock price is above the supply level, suggesting an opportunity for the stock buyers to influence the price tendency.

As a result, if buyers eventually wrestle trend control from sellers and rebound from $287.22 support, a positive breakout above the $349.75 is needed to confirm the potential Bull Run and might lead the share price to the $370.00 upper high level, offering a strong resistance to the stock price and attract more investors.

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