COIN (NASDAQ:COIN) Price Is Preparing for a New Bullish Pattern

$COIN (NASDAQ: COIN) Forecast: March 8

The Coinbase Global (NASDAQ: COIN) market is preparing for a new bullish pattern after updating the bearish momentum. It is about time for the stock market to resume a bullish pattern. If the bulls could put more aggression on the buying momentum, the share price may increase further to hit the $349.75 previous supply level and extend its surge to reach the $360.00 upper resistance level, resulting in a good entry point for the stock buyers.

Key Levels:
Resistance Levels: $294.00, $295.00, $296.00
Support Levels: $178.00, $177.00, $176.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN market is preparing for a new bullish pattern after updating the lows in its higher time frame. The price is below the EMA-50, indicating a downward momentum and the high impact of sellers in the market.
The bearish pressure at the $203.44 low mark on the 3rd of March has dropped the share price below the moving average in its recent high. Nevertheless, it seems the bulls will take over the share market and commence the new bullish phase as the selling pressure has ended.

The $COIN market hints at a potential bullish breakout as it prepares for a new bullish pattern, following a recent correction at the $226.60 high mark below the EMA-50 as the daily chart resumes today, with bulls seemingly returning and gaining momentum.

Meanwhile, if the rebound persists, the share price might test the $349.75 peak resistance value and aim for the $350.00 target.

However, the NASDAQ stock market points up on the daily stochastic, indicating that the selling momentum is unlikely.

As a result, the share price may surge to hit the $360.00 upper resistance level in the days ahead as it continues with the new bullish pattern in its long-term outlook.

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

On the medium-term outlook, the NASDAQ stock market is preparing for a new bullish pattern following the completion of the bearish momentum. The price is trending below the supply levels, indicating a bearish trend.
The sustained bearish pressure at a $208.00 support value in the last action has made the stock price trade below the supply trend levels in its recent high.

Exhaustion sets in as buyers return briefly to commence the new bullish pattern to a $226.56 supply level below the moving average as the 4-hourly chart opens today, implying that buyers are returning gradually into the market to stage a play.

Thus, if the bulls could push harder, the $COIN price may surge to retest the $349.75 high value, providing buyers with a good entry point.

Additionally, the NASDAQ: COIN market price is pointing up on the daily stochastic, indicating that further selling pressure is not likely as the new bullish pattern has just started.

As a result, the share price might increase further to the $360.00 upper resistance value in the coming days in its medium-term outlook.

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