COIN (NASDAQ:COIN) Price Set for an Upswing

$COIN (NASDAQ: COIN) Forecast: August 16

The Coinbase Global (NASDAQ: COIN) market is poised for an upswing and may soon reclaim a crucial supply level as it resumes its bullish trend, potentially leading to a swift increase. The stock price may increase further to break through the $405.88 supply level, provided buyers intensify their buying pressure and don’t give up. Therefore, if the coin price could sustain above the pattern supply trend line, the price may trigger up to the overhead resistance mark at the $415.96 level, signaling an uptick in investors’ interest.

Key Levels:
Resistance Levels: $398.00, $399.00, $400.00
Support Levels:   $163.00, $162.00, $161.00

COIN Long-term Trend: Bearish (Daily Chart)

On the higher time frame, the price of $COIN is bearish. The price bar is shown in green below the moving average, indicating a negative trend.
Its current price level has become bearish due to the bears’ prior action at a low value of $321.56. The selling pressure appears to have subsided, though, and a turnaround for stock buyers is imminent.

However, as a fresh pullback has occurred below the trend lines, the bulls are poised to push the price upward.

As the daily session begins today, the NASDAQ: COIN current price at $327.45 high level below the EMA-50, shows that investors are optimistic about increasing the potential, which might break the $405.88 critical resistance level.

Long-term traders can seize this brief bullish upswing to the overhead barrier, but the range breakout will determine the direction of the share price in the near future.

Additionally, if the bulls increase their buying speed, the present correction phase may thus continue and may surge to reach the $415.96 upper resistance level as the bulls continue their bullish correction and maintain their dominance in the long run.

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

The NASDAQ: COIN market is down. A bearish trend is indicated by the share value’s recent recovery of a critical supply below the moving average.
After breaking through the support at $322.90, the share price may be on the rise. Nonetheless, it appears that the share price will rise sooner.

Its bearish momentum has been exacerbated by short-term traders’ intervention to the $322.90 low level in the prior action.

As the 4-hourly session begins today, the market price of NASDAQ: COIN is at a high level of $326.25 below the moving average, indicating that buyers are defending this level and trying to drive the share price higher. This shows that the bulls have returned to the market and that the market mood has strengthened.

Hence, a significant push above the previous barrier level of $436.30 will provide and lay the groundwork for an upward trajectory.

Furthermore, if the support level holds, there is a chance that the price of $COIN may increase, allowing buyers to push the stock price to a high of $415.96 in the near future from a medium-term viewpoint.

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