COIN (NASDAQ:COIN) Price Suggests a Potential Upside Reversal

$COIN (NASDAQ: COIN) Forecast: February 26

The Coinbase Global (NASDAQ: COIN) market is on the verge of a potential upside reversal to resume its uphill trend soon. The share price is nearing the end of its downward trend and is about to enter a correction phase. Therefore, should the bulls add more pressure to the buying momentum on the stock, the price may reverse to the bullish pattern, and its upside could reach the $349.75 prior high mark and extend to a $360.00 upper resistance level, indicating a high potential for the shareholders.

Key Levels:
Resistance Levels: $300.00, $301.00, $302.00
Support Levels: $245.00, $244.00, $243.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN market suggests a potential upside reversal and has a bearish posture in its higher time frame. The price is below the EMA-50, indicating a downward momentum and the high impact of sellers in the market.
Action from the short traders to a $234.76 support level in the last session has contributed immensely to the stock market’s bearishness in its recent low.

Hence, the share market is oversold and is on the verge of a potential upside reversal.

The NASDAQ stock price dropped even further today, reaching a low of $223.60 below the supply levels due to sellers’ reaction to the stock market.

However, if a renewed surge in buyers’ interest occurs, the stock price may undergo an upside reversal at the $223.60 low level to retest the prior high of $349.75, providing shareholders with great recovery potential.

In addition, the $COIN price suggests a potential upside reversal as the market points up at the oversold region of the daily stochastic, indicating that the selling pressure is likely to end and will compel buyers to resume sooner.

Hence, the new bullish corrective pattern may extend to the $360.00 high mark in the coming days in its long-term perspective.

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

On the medium-term chart, the NASDAQ stock market is showing a downward movement. The share price is still on the verge of a potential upside reversal as it continues in a bearish trend below the supply levels, suggesting a bearish momentum.
The $COIN price drops to a $227.49 low mark below the moving averages as the 4-hourly session opens today due to low bullish momentum. Meanwhile, traders who buy the stock during a bearish market will also make gains in the future.

In addition, the price $COIN has dropped below the daily stochastic 20% zone, indicating that an upside reversal is imminent. It shows that the share market is trading in the oversold region, suggesting that the selling pressure is likely to end sooner.

The emergence of buyers in the oversold region of the market is imminent. In light of this, the share price may reverse and pump or spike higher to reach the $360.00 upper resistance level in the days ahead in its medium-term forecast.

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