COIN (NASDAQ:COIN) Price Could Turn Positive Soon

$COIN (NASDAQ: COIN) Forecast: April 23

The Coinbase Global (NASDAQ: COIN) market could turn positive soon as the selling pressure is about to subside. The stock market is on the verge of a correction phase if the bulls put more aggression on their buying purposes and all support levels remain unmoved, the price breakout may test the previous high at a $320.90 value, and this may hit the $349.75 supply trend line, indicating capital inflow to the asset and increasing buying pressure.

Key Levels:
Resistance Levels: $300.00, $301.00, $302.00
Support Levels: $147.00, $146.00, $145.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN market low momentum could turn positive soon as the selling pressure is about to subside. The stock price is trading below the EMA-50, suggesting a bearish trend. However, the current trend will soon be nullified as the market indicates uptrend.
The sustained bearish pressure at the $175.57 support value in the last few days has contributed to its bearishness in its recent low.

As the daily chart begins today, bearish actions sent the $COIN price lower to a $171.41 support level below the EMA-50. Meanwhile, the selling pressure on share market may be subsiding, potentially leading to a reversal at the $171.41 support level if buyers step in.

However, the NASDAQ stock market could turn positive and grow further if the buy traders increase their activities and turn up from the $171.41 current support to break up the $320.90 previous high level, maintaining a further growth potential for the buy traders.

Similarly, should the bulls exchange hands with the sell traders at the $171.41 low value and close above the $320.90 resistance value, the share price might further increase to a $349.75 resistance level, leading to additional gains for the buy investors in its long –term outlook.

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

The NASDAQ stock market is trading in a bearish trend in its medium-term outlook due to the high influence of the sell traders.
Actions from the short traders at a $171.45 low value in the last session have dropped the stock price beneath the supply trend line in its recent correction.

However, the share market is regaining strength with new corrective moves at the support levels.

Today, the NASDAQ: COIN price rallied to the $175.68 resistance value below the moving average as a pullback and breached the $172.96 barrier as the 4-hourly chart opens.

With the overall market trend still bearish, the share price could turn positive and plunge higher to retest the high accumulation zone of $310.64

In continuation, the market price of $COIN is uptrend on the daily stochastic, suggesting the selling pressure is likely to end soon. We will now be looking into the emergence of stock buyers.

As a result, the price could pump or surge upsides to hit the $349.75 resistance value soon in its medium-term outlook.

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