COIN (NASDAQ:COIN) Price Preparing for the Next Bull Rally

$COIN (NASDAQ: COIN) Forecast: November 19

The Coinbase Global (NASDAQ: COIN) market is preparing for the next bull rally as selling pressure is about to subside, and the stock may be prepared for an upward movement. The share price might increase, and a bullish break above the $392.16 resistance level will indicate that buyers are more optimistic. However, investors will be better equipped to sustain this recovery if this is done. As a result, a post-retest rally can raise prices and bring them up to the $405.88 upper resistance level, providing a possible entry point for shareholders in a market that is correcting.

Key Levels:
Resistance Levels: $398.00, $399.00, $400.00
Support Levels:    $198.00, $197.00, $196.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN market is poised to complete the dip-low movement and is on the verge of entering a bullish correction phase in its higher time frame.
Furthermore, the share price is below the EMA-50, suggesting a bearish trend.

The sustained bearish pressure to $279.83 in the last session has contributed to the stock price remaining below the supply trend levels in its recent low.

The $COIN price dropped even further today, reaching a low of $258.22 below the EMA-50 due to the influx of sell traders.

Meanwhile, buyers could take advantage of this opportunity to purchase the share at a discount and make a bigger profit later on.

However, if a renewed surge in buyers’ interest occurs, the NASDAQ stock price may undergo an upside reversal at the mentioned support, retesting the prior high of $392.16 and providing shareholders with great recovery potential.

Additionally, the $COIN price reversal is likely soon as the market has fallen to the oversold region of the daily stochastic, implying that the selling pressure is about to end soon and will compel buyers to resume sooner.

Hence, the next bullish corrective pattern may extend to the $405.88 upper high mark in its long-term perspective.

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

In preparation for the next bull trend in its medium-term perspective, the price of $COIN is headed to a new resistance level.
Due to the significant order flow from sellers, the price is heading below the moving average, indicating a negative momentum.

Furthermore, the price is building momentum in anticipation of the upcoming bull trend.

However, the NASDAQ: COIN market is regaining its strength as seen from the above chart, making a new corrective move by the bulls at the support levels.

A surge to the $264.26 high mark as a pullback below the EMA-50 shortly after the 4-hourly chart opens today, confirms the long traders’ return to the market for the next bull rally.

Thus, if the bulls can increase their efforts and push over the present supply level, the stock price is expected to rise further.

Sustaining this level could pave the way for the share to aim for a higher resistance at $370.26 level.

In conclusion, while the market continues to rise on the daily stochastic, the NASDAQ stock market value is poised for further growth, suggesting that selling pressure is unlikely to occur again.

Therefore, from a long-term perspective, the bullish corrective pattern may reach the $389.56 upper high mark in the coming days.

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