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

$COIN (NASDAQ: COIN) Forecast: September 1

The Coinbase Global (NASDAQ: COIN) price is poised for a bullish reversal as the current selling pressure may soon come to an end. Hence, the stock price may be ready for an upward rise. The share is nearing the end of its dip-low trend and is set to enter a correction phase. Therefore, should the bulls add more pressure to the buying momentum, the price action may revert to the bullish pattern, and its upward movements might continue to $382.00, extending to meet the $415.96 upper resistance level, establishing a solid accumulation zone for share holders.

Key Levels:
Resistance Levels: $384.00, $385.00, $286.00
Support Levels:    $147.00, $146.00, $145.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN market is in a bearish posture, as shown on the higher time frame. The price is below the EMA-50, indicating a downward momentum and the high impact of sellers in the market.
However, as the market is already very close to the oversold area, the current trend might soon be reversed.

The stock price has recently been below supply levels due to persistent bearish pressure at the $306.00 support value from the previous session.

Today, the $COIN price fell to a low of $301.50 below the supply levels due to the actions of sellers.

This is a result of low bullish momentum. In the meantime, buyers could take advantage of this opportunity to acquire the asset at a discounted price for future gains

Meanwhile, as the NASDAQ stock market price is already approaching the oversold area, the selling pressure will soon decline, and any declines may be doubtful.

In light of this, the share price may experience an upside reversal at the mentioned support. Hence, if the bulls succeed, the $415.96 upper resistance level might be reached in the coming days on its longer time frame.

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

The $COIN also trades in a bearish trend market in the medium-term outlook, due to the high impact of the short-term traders on the price flow.
Before yesterday’s session ended, the sell traders moved lower to the $308.42 support level. As a result, sellers were more motivated to follow the trend to its most recent low.

The market price of NASDAQ: COIN, which drops further to a $303.79 low mark below the moving averages as the 4-hourly session opens today, is a result of low bullish momentum. Meanwhile, traders who buy the stock during a bearish market will also make gains in the future.

Thus, the share value may undergo an upward reversal at the mentioned low level to retest the prior high of $436.30, giving stock buyers a good chance of recovery, provided the bulls are able to mobilize their forces in the market.

Furthermore, the NASDAQ stock market is approaching the oversold region on the daily stochastic, indicating that the selling pressure may soon be put to hibernation.

This will force buyers to resume sooner, and the next bullish corrective pattern might reach the $415.00 upper high point in the days ahead.

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