COIN (NASDAQ:COIN) Price Could See an Upside Reversal Soon

$COIN (NASDAQ: COIN) Forecast: October 13

The Coinbase Global (NASDAQ: COIN) market is poised for an upside reversal as the slight drop in price may be aborted soon, and the stock price could experience a turnaround to begin its bullish ride. Meanwhile, according to this view, if there is a renewed spike in buyer interest, the share price may turn positive and break through the previous $405.88 barrier, extending to meet the $415.00 upper resistance level and gaining a stronger foundation for future increases.

Key Levels:
Resistance Levels: $390.00, $391.00, $392.00
Support Levels:    $297.00, $296.00, $295.00

COIN Long-term Trend: Bullish (Daily Chart)

In the long run, $COIN is in a favorable position. The price is above the EMA-50, signaling strong buying activity and upward momentum.
The share price has stayed above supply trend levels at its current level due to persistent bullish pressure in recent days. It recently reached a high of $387.00.

At press time, NASDAQ: COIN is at the $351.63 support level. The price remains above the resistance trend line, which suggests a bullish trend. The market condition of the stock remains intact, allowing for a more optimistic market value.

Furthermore, investors may seize the opportunity now and buy the shares at a lower price for more gains ahead.

If the bulls shift their orientation and accelerate buying actions, the share price may reverse from its current low and move up for a bullish breakout.

It could reach the prior high of $405.88 and strengthen the bullish move before a possible range breakdown.

In addition, the NASDAQ stock price may experience an upside reversal soon at the current support level as the market approaches the oversold region, indicating an uptrend is at hand. In light of this, the bullish reversal could reach as high as $415.00 upper high level in the days ahead in its long-term forecast.

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

The NASDAQ: COIN market has a bullish posture and may experience an upside reversal as bearish pressure is about to end in the medium-term outlook. The share price is above the resistance levels, suggesting an uptrend.
The sustained bullish pressure at $387.04 in the last session has made the stock price remain above the supply trend levels lately.

Today, buyers await a bullish opportunity, and the $COIN price may experience an upside reversal as the short traders drop the stock price to a $351.60 support level above the EMA-50 as the 4-hourly chart opens.

Hence, the bullish momentum might be triggered, and the share price may experience an upside reversal at the mentioned support to break the $405.32 previous high value if the bulls increase their buying momentum and all support levels hold, providing buyers with a solid entry point.

Additionally, more upward moves are likely as the NASDAQ stock market is already oversold, suggesting a potential reversal is imminent.

In light of this, the bulls may drive the share price towards the $430.26 upper resistance level in the days ahead on its medium-term outlook.

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