COIN (NASDAQ:COIN) Price Anticipates a Potential Bullish Reversal

$COIN (NASDAQ: COIN) Forecast: May 7

Today, the Coinbase Global (NASDAQ: COIN) market structure suggests a potential bullish reversal as the price may take a bullish turnaround soon. The selling pressure may end, and the stock price could be ready for an upbeat movement. Based on the outlook, if a renewed surge in buyer interest occurs, the share price might turn positive to surpass the $349.75 barrier, obtaining a higher footing to rise higher.

Key Levels:
Resistance Levels: $300.00, $301.00, $302.00
Support Levels: $175.00, $174.00, $173.00

COIN Long-term Trend: Bullish (Daily Chart)

Despite the bears’ activities, the $COIN market is bullish in its long-term view. The price is above the EMA-50, indicating upward momentum and the high impact of buyers in the market.
The bulls’ action at the $209.00 resistance value in the last session has sustained the upward strength in its recent high.

At the press time, the NASDAQ: COIN price at the $198.65 support level 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, buyers must step up their efforts to predict a bullish rise in the market above the $349.75 supply level.

Additionally, staying above the supply levels will give the NASDAQ stock price the tendency to experience an upside reversal at the $198.65 current support level.

As a result, the stock price may turn upside to hit the $349.75 upper high mark in the days ahead, suggesting a good entry point for shareholders in its long-term perspective.

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

The $COIN market also trades in a bullish trend in the medium-term outlook due to the high impact of long-term traders on the price flow.
The increase in bulls’ momentum at the $209.00 supply value in the last action has enabled the share price to stay above the resistance lines in its recent price level.

At the press time, the NASDAQ stock price trades at the $199.21 support level above the supply levels, indicating a bullish momentum.

It’s worth noting that the upward trajectory could face another barrier near the next resistance level at $302.40. A breakout above this level could propel the stock price higher by 20%.

Additionally, the NASDAQ: COIN price is above the supply level, suggesting an opportunity for the shareholders to influence the price tendency.

As a result, if buyers eventually wrestle trend control from sellers and rebound from $199.21 support, a positive breakout above the current support is needed to confirm the potential Bull Run, leading the stock price to the $349.75 upper high level, offering a strong resistance to the share price and attract more investors.

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