COIN (NASDAQ:COIN) Price Poised for Bullish Continuation Pattern

$COIN (NASDAQ: COIN) Forecast: June 4

The Coinbase Global (NASDAQ: COIN) market is poised for bullish continuation as the downturn movements may subside soon. The stock price might rebound and turn upside from the $240.91 daily support if the bulls add more aggression to their buying motives and all support levels remain unmoved. Hence, if all the current support holds and the bulls can push higher, the price breakout may test the previous high at $277.80 value, and this may surge to hit the $350.00 supply trend line, indicating capital inflow into the asset and increasing buying pressure.

Key Levels:
Resistance Levels: $304.00, $305.00, $306.00
Support Levels: $165.00, $164.00, $163.00

COIN Long-term Trend: Bullish (Daily Chart)

Despite the slight dip, the $COIN market price remains bullish in its long-term view.

However, there is a possibility the stock experience an upside reversal as it is poised for a bullish continuation pattern. However, the stock price is above the supply levels, indicating a bullish trend.

The sustained bullish pressure at a $268.04 level in the last few days has enabled the share price to remain above the supply trend levels at its recent high.

The drop in the price of NASDAQ: COIN to the $274.60 low value above the EMA-50 on the daily chart today has no serious effect on the market as the share price remains in an uptrend. However, this allows for a more optimistic effect on the market value.

Further, investors may seize the opportunity now and buy the share at a lower price, for gains ahead.

Therefore, maintaining above supply levels suggests a high likelihood of a bullish correction pattern. If the bulls step in and break above the $277.00 resistance point, the selling pressure will nullified and strengthen the bullish move.

In addition, the selling pressure on the NASDAQ stock market may be subsiding as the stock price now approaches the oversold region, potentially leading to a reversal at the $274.60 support level if buyers step in.

Thus, the $277.00 previous high might be touched, exposing the share price to a $350.00 upper resistance level in the coming days, suggesting continued buying pressure in its long-term outlook.

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

Here, on the 4-hour chart, the NASDAQ: COIN market is showing an upward movement. The market price is trading above the supply level indicating a bullish market zone, due to the inflows from buy traders.
The price hovers at the$246.75 supply level above the moving averages, as the 4-hour chart opens today, reflecting growing confidence among investors.

Meanwhile, the uptrend momentum may be triggered and the share price may experience a bullish continuation pattern to break the $277.00 previous high value if the bulls increase their buying momentum and all support levels hold.

Additionally, the $COIN price is below the 1o% range of the daily stochastic, suggesting the emergence of more buyers in the stock market.

In light of this, the market value may continue the bullish pattern to reach the $350.00 upper resistance mark in the coming days in its medium-term outlook.

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