COIN (NASDAQ:COIN) Price Retesting the $349.75 Supply Level Soon

$COIN (NASDAQ: COIN) Forecast: March 10

The Coinbase Global (NASDAQ: COIN) is poised to retest the $349.75 supply level as it resumes its bullish race. The stock market is trying hard not to fall heavily to the downside. Therefore, if the bulls could trigger their forces in the market, the potential recovery could rise 9.35% and challenge the neckline resistance of $320.90, exposing the share price to reach the $349.75 upper high level and beyond. Thus, a turnaround and clear buy signal for the shareholders.

Key Levels:
Resistance Levels: $301.00, $302.00, $303.00
Support Levels: $168.00, $167.00, $166.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN market aims at retesting the $349.75 supply following the start of a new correction at the support level in its higher time frame. The prices are traded below the moving average, confirming a bearish trend due to the high impact from sellers.
The high order flow from the bears at the $213.00 support value in the previous action also added to its bearishness. However, the bulls are about to take over and push us higher.

The share market is recovering from the recent correction as fresh buying emerges near the supply level following the upward race.

The $COIN, having completed the dip-lows at $213.00, responded to the shift in the trend and increased to the $222.05 supply mark below the EMA-50 as a pullback as the daily chart opens today, indicating that the buying traders are actively buying for bullish expansion at this level.

Thus, a potential breakout from this trend line to retesting the $349.75 resistance point is crucial as the bulls resume the upsurge.

In addition, if the bullish momentum persists, a breakout above this combined resistance with candle closing may push the price of NASDAQ: COIN to the $349.75 upper resistance value in the days ahead, signaling a strong buy signal for interested traders in its higher timeframe.

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

On the medium-term outlook, the NASDAQ stock market is poised at retesting the $349.75 as the price trends below the supply level preparing for a new bullish pattern after the completion of the bearish momentum. The price is trending below the supply levels, indicating a bearish trend.
The sustained bearish pressure at a $213.07 support value in the last session has made the stock price trade below the supply trend levels in its recent correction.

Activities from the long traders pushed the $COIN price to a $221.19 high mark below the supply level shortly after the commencement of the 4-hourly chart.

Thus, if a renewed surge in buying interest occurs, the stock buyers could aim at retesting the $349.75 peak value, strengthening the bullish momentum.

Meanwhile, the market price of NASDAQ: COIN is pointing up on the daily stochastic, suggesting that the selling pressure is unlikely.

As a result, the expected upside in the share price could be high at the $349.75 level in the coming days as the stock market suggests a potential uptrend soon in its medium-term forecast.

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