COIN (NASDAQ:COIN) Price Could See another Bullish Trend Soon

$COIN (NASDAQ: COIN) Forecast: September 8

The Coinbase Global (NASDAQ: COIN) market could see another bullish trend sooner. The current energy is at the bottom of the range. The stock price may soon be ready for another likely upward rise after reversing in a favorable trend. Therefore, if buyers boost their buying efforts and break above the June 25 high of $282.00, the share market may experience further growth, and a possible upswing would have better confirmation of a bullish recovery. Investors would become excited as the post-breakout surge led the stock market towards the upper resistance region at $415.96.

Key Levels:
Resistance Levels: $380.00, $381.00, $382.00
Support Levels:    $193.00, $192.00, $191.00

COIN Long-term Trend: Bearish (Daily Chart)

The chart below shows that the $COIN market is in a negative posture in its long-term perspective because of the influx of sell traders.

Its recent low has been bearish due to the bears’ persistent pressure at the $301.15 support level during the previous session.

Today, the stock price fell below the moving averages to a support level of $315.74 due to the actions of selling traders as the daily chart resumes.

Given the current trend, buyers may purchase the asset at a lower cost and drive the market higher.

Thus, if the bulls shift their focus and increase their buying operations, the NASDAQ stock price may rebound from the mentioned support and give a bullish breakout, hitting a previous high of $382.00 before a range breakdown again.

Further, NASDAQ: COIN is likely to reverse and face the upside as the market is now trading around the 24% range of the daily stochastic, suggesting that selling pressure will subside.

As a result, the emergence of buyers at this level is crucial and may likely break up the $405.88 supply to reach the $415.96 upper resistance level soon in its higher time frame.

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

The medium-term outlook for the NASDAQ: COIN market is in a bearish trend zone, as shown in the chart below.
Further, it signals the next big change in pricing. The new market structure is about to favor the bulls.

The $300.86 price level served as solid resistance for the share price as a pullback below the EMA-50 as the 4-hourly session opens today. As a result of the new bullish correction, the bulls may continue climbing.

Thus, an improved buying force and a positive close above the $405.32 previous high will signal sustained upward momentum.

Similarly, the price of $COIN will continue its bullish phase, just like the daily stochastic is pointing upward in the oversold area, indicating that there is no longer any selling pressure.

In light of this, the upcoming bullish correction phase may swiftly reach a high of $415.96 in its medium-term time frame, reflecting promising growth.

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