COIN (NASDAQ:COIN) Price Aims to Rally Higher at $167.65 Value
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COIN (NASDAQ:COIN) Price Aims to Rally Higher at $167.65 Value

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Azeez Mustapha

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$COIN (NASDAQ: COIN) Forecast: February 16

The Coinbase Global (NASDAQ: COIN) market price may proceed higher. The price may enter into a full-blown bull run as it aims to rally higher at the $167.65 mark, suggesting investors’ optimism is about to grow. Therefore, if the bulls can trigger their forces and surpass the $383.50 barrier level, long traders may propel the buying pressure to a full-blown bull run at the $392.16 upper resistance level, signaling the buying opportunity for traders.

Key Levels:
Resistance Levels: $383.00, $384.00, $385.00
Support Levels:    $239.00, $238.00, $237.00

COIN Long-term Trend: Bearish (Daily Chart)

The $COIN market price aims to rally higher as it begins its upward trend below the supply levels and recovers modestly in the long-term view.
COIN (NASDAQ:COIN) Price Aims to Rally Higher at 7.65 Value The interference of short-term traders at $139.36 in the previous action has contributed to its recent bearishness.

Meanwhile, the bulls pushed the NASDAQ: COIN price to a $167.65 resistance level below the EMA-50 in an attempt to continue the positive trend on the daily chart.

The potential rally might therefore surge to a considerable level at the upper channel, indicating a high potential rally for stock buyers, if the price could hold above the prior high level of $383.50.

Additionally, the daily stochastic indicates an uptrend by pointing upwards. Hence, there is a tendency for the NASDAQ stock to rise further if the support level holds.

As a result, buyers may take the share price to an upper resistance level of $392.16 in the days ahead on a higher time frame.

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

The NASDAQ: COIN market is in a bearish trend in the medium-term outlook, due to the high impact of short-term traders on the price flow.
COIN (NASDAQ:COIN) Price Aims to Rally Higher at 7.65 Value The sell traders moved lower before yesterday’s session ended, reaching the $139.37 support level. This made it easier for sellers to follow the trend to the most recent low.

$COIN Aims to Rally Higher

From the standpoint of trading: The goal of the $COIN is to rally higher. This real-time information on retail accumulation during a slump could set scalpers off right away.

After the bulls’ touch at $167.10 today, the market price of $COIN dropped to a low of $163.60 below the moving averages as the 4-hourly session opens.

Meanwhile, if the bulls are able to take control from the sell traders at the mentioned support, the share price may reverse to the previous peak barrier of $333.98, indicating a significant upward trend.

Notably, the NASDAQ stock price aims to rally higher as it remains in an uptrend on the daily indicator, suggesting that selling pressure is uncertain.

Given this, the emergence of buyers is crucial, and this may drive the stock price to a $392.16 upper resistance level in the upcoming days.

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