COIN (NASDAQ:COIN) Price Retracement Will Load More
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COIN (NASDAQ:COIN) Price Retracement Will Load More

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Azeez Mustapha

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$COIN (NASDAQ: COIN) Forecast: February 11

The Coinbase Global (NASDAQ: COIN) value is expected to increase and will load more with the new bullish pattern after the bearish momentum is updated. It is about time for the stock market to resume a bullish pattern. Amidst the selling pressure, the share price gave a bullish breakout from $167.57, indicating that buyers are attempting a comeback. Therefore, if the bullish correction persists and price holds above $361.40, a possible rally might push the $COIN price to an upper resistance level of $392.00, indicating a potential buy signal for the stock buyers.

Key Levels:
Resistance Levels: $360.00, $361.00, $362.00
Support Levels:    $231.00, $230.00, $229.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN price retracement will surge higher after rebounding from its massive drop in the long-term perspective.
COIN (NASDAQ:COIN) Price Retracement Will Load More The stock price signs of upward retracement with a bearish sentiment suggest a bearish trend.

However, the current trend will soon be nullified as the market price retracement has just begun.

The persistent pressure from bears at the $145.16 in the last session has contributed to its bearishness in its recent correction.

The $COIN price pulled back to a $167.57 high level below the EMA-50 at the opening of the daily chart today, indicates the return of long traders following the completion of the downward trend, as the stock price moves towards a bullish trend.

Hence, the share is attempting a comeback syndrome, and the price retracement may load more and surge higher.

Thus, a possible breakout from the mentioned price retracement level may accelerate the buying momentum and push the stock price higher to the previous high of $361.40, bolstering buyers for a sustainable rally.

Notably, the NASDAQ stock price may increase, as shown by the daily stochastic, indicating an uptrend.

Given this, the price retracement may surge to the $392.00 upper resistance level in its higher time frame.

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

In the medium-term outlook, the NASDAQ stock price may rise and load more as the bullish correction has just begun following the completion of the bearish momentum. The price is trending below the supply levels, indicating a bearish trend.
COIN (NASDAQ:COIN) Price Retracement Will Load More Actions from the bears to a $145.17 during the prior session have dropped the share price below the supply level lately.

$COIN Bulls Will Load More
Now, no bear can oppose these sentiments. Bulls will load more. Only two realistic resolution zones remain after this modification. The potential grows as the level of uncertainty rises. We anticipate an upside of almost 300% from here.

 At the time of writing, the $COIN price retracement at $167.57 below the EMA-50 served as a solid resistance for the stock price as the 4-hourly session begins today.

Due to the current bullish correction in place, it is extremely likely that the price retracement will continue, and the next price target may surpass the previous peak barrier of $356.85.

Therefore, if the bulls increase their buying speed and close above the peak resistance level, the buy investors would record more intraday gains.

Additionally, the bullish movement is likely as the price indicator projects an upward move, implying that the bullish trend will continue.

As a result, the pattern may surge to hit the $392.00 upper resistance trend line, indicating a potential buy signal.

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