COIN (NASDAQ:COIN) Price May Break up the $349.75 Supply Value

$COIN (NASDAQ: COIN) Forecast: February 10

The Coinbase Global (NASDAQ: COIN) price could see another uptrend to break up the $349.75 previous high point, provided the stock buyers add more aggression to their buying pressure and don’t give up. Despite the observed downward trend, increased whale activity and significant acquisitions of the share poised the market for a potential rally. A bullish reversal would typically follow testing the support level. Therefore, if the stock price could sustain above the pattern supply trend line, the share may trigger up to the overhead resistance mark at the $349.75 level, indicating an increase in investors’ interest.

Key Levels:
Resistance Levels: $288.00, $289.00, $290.00
Support Levels: $164.00, $163.00, $162.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN price is trending below the supply levels and may break up the $349.75 previous barrier level in its higher time frame. The share price is below the moving average due to the high order flow of the sell traders.
The bears’ previous action at a $269.00 low value has added to the bearishness of its recent price level.

However, the bulls are set to swing up the stock price to a higher level as a new correction has begun below the trend levels.

The current price of the $COIN at the $282.57 high level, with a pullback below the EMA-50 as the daily session opens today, indicates investor optimism about increasing the potential, which may break up the crucial resistance level.

The long-term traders can grab this short bullish upswing to overhead resistance, but the fate of the NASDAQ stock price depends on the range breakout.

Hence, the current correction phase may continue as the momentum indicator points up.

As a result, the NASDAQ: COIN price may surge to break up the $349.75 previous barrier to reach a significant level of $380.00 supply trend line as the bulls continue with their bullish correction to stabilize the share price at the upside in its long-term perspective.

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

The NASDAQ: COIN price is on the verge of an upside reversal and may break up the crucial resistance levels in its medium-term outlook. The share price is below the EMA-50, indicating a downward momentum and the high impact of sellers in the market.
The sustained pressure from the bears at the $269.00 support level in the last few days has contributed to its bearishness in its recent low.

The $COIN price dropped even further today on the 4-hourly chart, reaching a low of $271.75 below the supply level as a result of the sell traders’ action.

In the meanwhile, buyers could take advantage of this chance to purchase the stock at a discount to make a bigger profit later on.

However, if a renewed surge in buyers’ interest occurs, the share price may undergo an upside reversal at the $271.75 low level to break up the prior high of $349.75 level, providing coin purchasers with great recovery potential.

In conclusion, the NASDAQ stock price is on the verge of an upside reversal as the market has fallen to the oversold region of the daily stochastic, implying that the selling pressure may subside soon and will compel buyers to resume.

In light of this, the share price may reverse and break up the resistance level or spike higher to reach the $380.00 upper resistance level in the days ahead in its medium-term forecast.

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