COIN (NASDAQ:COIN) Price Could See another Trend Reversal

$COIN (NASDAQ: COIN) Forecast: February 22

The Coinbase Global (NASDAQ: COIN) market could see another trend reversal to the upside. Hence, another bullish trend reversal is possible as the stock market is oversold. If the buy traders revive their buying power and trade hands with the bears at the current support level of $250.37, the share price might retrace and surge to retest its previous high of $349.75 peak value and even farther reach the $360.00 upper resistance mark, leading to an established uptrend and a potential buy signal for interested stock traders.

Key Levels:
Resistance Levels: $299.00, $300.00, $301.00
Support Levels: $240.00, $239.00, $238.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ stock market could see another trend reversal. The share is on the verge of an upside reversal and has a bearish posture in its long-term perspective. The price is below the EMA line, indicating a downward momentum and the high impact of sellers in the market.
The sustained bearish pressure to the $257.68 low level in the previous action has led to the share price to its recent low. Hence, the stock market is oversold and is on the verge of an upside reversal.

The $COIN price dropped even further today, reaching a low of $250.37 below the supply level due to sellers’ reactions.

However, if a renewed surge in buyers’ interest occurs, the share price could see another trend reversal at the $250.37 low level to retest the prior high of $349.75, providing stock buyers with great recovery potential.

In conclusion, the NASDAQ: COIN price is on the verge of another trend reversal as the market has fallen to the oversold region of the daily stochastic, implying that the selling pressure might end soon and will compel buyers to resume sooner.

Hence, the bullish corrective pattern may extend to the $360.00 high mark in the coming days in its long-term perspective.

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

The NASDAQ stock market is displaying a falling trend on the medium-term chart and may soon undergo another correction to resume its upward trend. This is evident by the price’s ongoing downward momentum, showing lower lows below supply levels.
The stock market’s recent bearishness has been exacerbated by the persistent selling pressure over the past few hours. The selling pressure will soon ease, though, and the price may undergo another upward trend reversal soon.

Due to weak bullish momentum, the market price of $COIN continues to decline as the 4-hourly session begins today, reaching a low of $250.40 below the moving averages.

Therefore, a breakout above the resistance trend line is required if the buyers eventually wrestle trend control from the sellers and recover from the $250.40 support.

In addition, the price of the NASDAQ: COIN is up on the daily stochastic, indicating that an upside trend reversal is imminent.

In light of this, if the bulls increase their action, the share price may reverse and pump or spike higher to reach the $360.00 upper resistance level in the days ahead in its medium-term forecast.

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