COIN (NASDAQ:COIN) Possible Reversal at the $274.00 Support Value

$COIN (NASDAQ: COIN) Forecast: February 19

The Coinbase Global (NASDAQ: COIN) market may experience a possible reversal at the $274.00 support level to resume its uptick trend soon, as the selling pressure is about to subside.
Should the bulls push higher and exchange hands with the bears at the $274.00 current low level, the share price may surge to retest the $349.75 prior high barrier and extend to meet the $360.00 upper resistance level, signaling market gains for potential stockholders.

Key Levels:
Resistance Levels: $300.00, $301.00, $302.00
Support Levels: $245.00, $244.00, $243.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN market indicates a downward trend with a bearish long-term perspective. The stock price is trading below the EMA-50, suggesting a bearish trend. However, the current trend will soon be nullified as the market approaches the oversold region.
The sustained bearish pressure at the $265.83 support value in the last few days has contributed to the bearishness of the stock market in its recent low.

The price of $COIN at the $274.00 low value below the supply level as the daily chart opens today is due to low bullish momentum. Thus, traders who buy shares during the bearish market will also make gains in the future.

Meanwhile, there is a possibility for the NASDAQ stock price to experience a reversal at the mentioned support as the market now approaches the oversold region of the daily stochastic.

As a result, the upcoming bullish rally may likely break the $349.75 high mark and extend to hit the $360.00 upper supply value in the coming days in the long-term outlook.

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

The NASDAQ stock market is trading in a bearish market in its medium-term outlook due to the high influence of the sell traders.
Sustained pressure from the short traders to a $265.87 low mark in the previous action has led the share price below the supply levels in its recent low.

The $COIN plummeted beneath the EMA-50 at the $274.00 support value as the 4-hourly chart resumes today. However, traders might seize this opportunity to invest in the stock at a lower rate for future gains.

Thus, if the bulls can put extra effort into the price action, the stock price could turn positive and break above the $349.75 supply mark, as a result, further selling pressure will be put into hibernation.

In continuation, the market price of NASDAQ: COIN is approaching the oversold region of the stochastic, suggesting that the selling pressure will soon be exhausted. Thus, the expected upside in the share price could be high at the $360.00 upper resistance level in the coming days in its medium-term outlook.

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