COIN (NASDAQ:COIN) Price Looks for a Bullish Reversal

$COIN (NASDAQ: COIN) Forecast: April 9

The Coinbase Global (NASDAQ: COIN) market price looks for a bullish reversal as the current selling pressure may end soon and the stock price could be ready for an upward movement. This reversal pattern could assist shareholders in challenging the $349.75 neckline barrier and remain stable at the upside. Therefore, should the bulls add more pressure to the buying momentum on the share, the market value may reverse to the bullish pattern, and its upside moves could extend to a $350.00 upper resistance level, creating a strong accumulation zone for stock buyers.

Key Levels:
Resistance Levels: $285.00, $286.00, $287.00
Support Levels: $162.00, $161.00, $160.00

COIN Long-term Trend: Bearish (Daily Chart)

The $COIN market’s long-term outlook is for a bullish reversal as the selling pressure is about to wind up. The stock price is below the moving average due to the inflow from sell traders.
The sustained pressure from the bears at the $147.17 support level in the last few days has contributed to its bearishness in its recent low.

After the bulls’ intervention at the $167.40 high level, the NASDAQ stock price dropped to a low of $160.91, which is below the EMA-50, as the daily chart opens today.

Further, investors may seize the opportunity to buy the share at a lower price and look for more gains.

However, if a renewed surge in stock buyers occurs, the $COIN price might experience a possible reversal at the $160.91 current low value and turn upside to hit the $349.75 high point, signaling the potential for significant gains as the uptrend resumes soon.

Meanwhile, the selling pressure will end soon and further downsides may be unlikely as the market price of NASDAQ: COIN remains upward.

Due to this, the share price will be looking for an upside reversal to resume an uptrend soon. If this is achieved, the next price target might be the $350.00 resistance value in the days ahead in its higher time frame.

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

The $COIN market also looks for a bullish reversal as it remains bearish due to the high impact of short-term traders on the price flow.
Actions from the short traders at a $155.25 low value in the last few hours have dropped the share price beneath the supply trend lines in its recent low.

After completing the bullish move at the $167.40 level, the bears returned briefly and dropped the NASDAQ: COIN price to a low at $160.90 value below the EMA-50 as the 4-hourly session resumed due to low bullish momentum.

Meanwhile, traders who buy the stock during a bearish market will also make gains in the future.

With the overall market trend still bearish, the stock price may experience a possible reversal and plunge higher to retest the high accumulation zone of $349.75, resulting in an intraday gain for shareholders.

Meanwhile, the $COIN market might finish the downward correction and look for a bullish reversal as it remains in an uptrend on the daily stochastic.

As a result, the recovery rally may reach the $350.00 upper high value in the coming days in its medium-term perspective.

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