COIN (NASDAQ:COIN) Price Turning Positive Soon
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COIN (NASDAQ:COIN) Price Turning Positive Soon

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Azeez Mustapha

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$COIN (NASDQ: COIN) Forecast: January 19

The $COIN chart structure today suggests that the price will soon turn positive. The stock is on the verge of an increase, having completed the selling pressure; the price is likely to move up from the support waves. Therefore, if the bulls could change their orientation and wrestle trend control with the bears at the $240.30 4-hourly low level, the price may experience a retreat to hit the buyers’ accumulated zone of $392.16, which might further extend to an upper range level at $405.88, leading to a higher potential for buy investors.

Key Levels:
Resistance Levels: $355.00, $356.00, $357.00
Support Levels:    $292.00, $291.00, $290.00

COIN Long-term Trend: Bearish (Daily Chart)

The price of NASDAQ:COIN is in a bearish move in its long-term outlook. The prices are seen slightly below the moving averages, confirming their bearishness.
COIN (NASDAQ:COIN) Price Turning Positive Soon Furthermore, the price is gathering momentum and has decided to capitalize on the upside to achieve further gains.

Now, the current pullback at the $243.19 supply as the daily chart opens today indicates the return of buyers to stage a play and dominate market actions soon.

Should buyers prove strongly and move the share price above the previous high of $392.16, additional selling pressure will be hibernated.

Additionally, a more bullish action is expected, and the $COIN price may continue an uptrend as indicated by the daily stochastic.

Given this on the higher time frame, if buying pressure persists, there may be a potential rise in the stock price to reach the $405.88 upper high level in the coming days.

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

The $COIN market is in a downward trend in its medium-term perspective. The price bar is below the moving average lines, indicating a bearish trend.
COIN (NASDAQ:COIN) Price Turning Positive Soon The share price has dropped below the supply trend levels lately as a result of the bears’ obstruction at the $242.33 support level during the previous activity.

At press time, the NASDAQ:COIN price of $240.30, which is below the EMA-50 on the 4-hourly chart, is due to low bullish momentum.

Thus, traders who buy the stock during a bearish market session could also make gains.

Hence, should the bulls respond to the shift in trend and challenge the current support value, the further bearish thesis would be nullified.

Next, the daily signal is at the 16%, indicating that the market is oversold.

Thus, if the bulls could increase their buying power and exchange hands with the sell traders at the mentioned support, the share price may experience a reversal to retest the $370.26 high level and drive the $COIN prices high to hit the $388.27 upper resistance soon in its medium-term time frame.

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