COIN (NASDAQ:COIN) Price Might Reverse to the Upside

$COIN (NASDAQ: COIN) Forecast: June 30

Today, the Coinbase Global (NASDAQ: COIN) market value might reverse to the upside as the bulls still remain dominant with the stock price in red at the upside. The price is poised for an upside reversal as it remains in an upward momentum. The slight selling pressure may soon come to an end, and the share price could experience a turnaround, marking the beginning of a bullish ride. Staying above the supply level will give the shareholder the tendency to change the candle to green. Thus, if a renewed surge in buyer interest occurs, the market price might reverse to the upside and surpass the previous $349.75 barrier mark, gaining a higher footing to rise further.

Key Levels:
Resistance Levels: $348.00, $349.00, $350.00
Support Levels: $246.00, $245.00, $244.00

COIN Long-term Trend: Bullish (Daily Chart)

The NASDAQ stock market is bullish in its long-term view. The price is above the EMA-50, indicating an uphill trend and the high impact of buyers in the market.
The sustained bullish pressure at the $382.00 supply value in the last session has enabled the share price to remain above the supply trend levels in its recent drop.

As the daily chart opens today, the $COIN price fell to a low of $346.44 above the EMA-50 due to the actions of short traders.

Therefore, buyers need to work harder to forecast a positive market rise over the $349.75 supply level.

Additionally, there is a possibility for the NASDAQ: COIN price to experience an upside reversal at the $346.44 support as buyers remain dominant and are seen clustered around the market.

Due to this, the share price could reverse to the upsides to hit the $349.75 prior resistance and extend to a $382.00 upper resistance value on the higher time frame.

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

The NASDAQ: COIN market trades in a bullish trend in the medium-term outlook, due to the high impact of long-term traders on the price flow.
The increased momentum from the bulls at the $375.19 supply value in the last action has enabled the share price to stay in an upward trend.

Meanwhile, the current price of $COIN at a $346.95 low value above the supply trend lines has not disrupted the market condition of the coin as it remains intact.

It’s worth noting that the stock price might reverse to the upside and touch the barrier near the next resistance level at $377.30. Thus, a breakout above this level could propel the stock price higher by 20%.

Furthermore, the selling pressure on NASDAQ stock may be subsiding, potentially leading to a reversal at the $346.95 support level if buyers step in.

Thus, the $349.75 previous high level might be reached, exposing the share price to a $382.00 upper resistance level, suggesting continued buying pressure.

Trade your favorite stocks using a premium broker. Open an account here