COIN (NASDAQ:COIN) Price Anticipates Further Growth

$COIN (NASDAQ: COIN) Forecast: December 6

The Coinbase Global (NASDAQ: COIN) price is down, anticipating further growth and preparing for bounces to begin its upward race. The stock market is about to make noise again as it approaches the resistance level, suggesting buyers are trying to recover the lost ground. Thus, a strong push from the current resistance of $277.59 above the $396.50 supply level will offer strong resistance to the share price. Given this, the next target may reach the $405.88 upper resistance level, maintaining a further growth potential for the buy traders.

Key Levels:
Resistance Levels: $398.00, $399.00, $400.00
Support Levels:    $198.00, $197.00, $196.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN market is gathering momentum to revitalize the bullish correction pattern on the long-term outlook. The stock price is below the EMA-50, indicating the market is bearish.
Reactions from short traders at a $263.21 low in the last few days have dropped the share price beneath the supply level in its recent correction.

The share price rebounded from the mentioned support and pushed higher to the $277.59 supply level below the moving average as the daily chart opens today, indicating a genuine reversal, which may attempt the $405.88 crucial supply breakout.

Notably, the $COIN market suggests an uptrend on the daily projector. Thus, should the bulls change their orientation and the buying pressure persists, the NASDAQ stock price may give a bullish breakout of the bearish pattern to retest the previous supply level and lead the share price to the $415.00 upper resistance mark in the coming days on the higher time frame.

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

In the long run, the $COIN trades in a bearish trend due to low bullish momentum.

The price bar is trading below the moving averages. This is because short-term traders have a significant influence on the price flow.

Bulls, however, are expected to intensify the momentum and could break through the resistance level.

The order flow of sellers at $263.21 in the past action has contributed to its bearishness in its recent correction.

The NASDAQ: COIN anticipates further growth as the share price surges to a $277.59 resistance level below the moving averages on the 4-hourly chart today, indicating that the bulls are coming into the market to command the price actions.

Given this, completing the four-hour session above the $388.27 supply level will boost investor confidence in the asset and shift the trade towards the buying level.

Additionally, the daily stochastic indicates an uptrend; in this instance, the price of NASDAQ stock may maintain its bullish trend pattern and increase further to hit the $405.88 supply mark sooner in its long-term view.

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