COIN (NASDAQ:COIN) Price Will Grow Soon

$COIN (NASDAQ: COIN) Forecast: May 12

The Coinbase Global (NASDAQ: COIN) market price will grow soon as the selling pressure is about to be exhausted, and the stock market could be ready for an upward movement. However, if the bulls could change their orientation and exchange hands with the sell traders at the $198.77 current low value, its upside may surge to retest the $332.00 prior supply and shift to the $349.75 upper resistance level, restoring the bullish sentiment in the market.

Key Levels:
Resistance Levels: $302.00, $303.00, $304.00
Support Levels: $198.00, $197.00, $196.00

COIN Long-term Trend: Bearish (Daily Chart)

The $COIN market will grow soon as it is at the verge of an upside reversal and has a bearish posture in the long-term perspective.

The stock price is slightly below the EMA, indicating a downward momentum and the high impact of sellers in the market.

The sustained bearish pressure at the $199.83 low value in the last session contributed to its bearishness at its recent low.

Actions from the bears dropped the NASDAQ stock price to a low of $198.77, slightly below the moving average as the daily session opens today.

Thus, if the bulls could wrestle control from the sell traders, the share price may reverse from the $198.77 current support level and touch the $332.00 peak barrier level, indicating a significant upward trend.

Furthermore, the emergence of the bulls may occur soon as the NASDAQ: COIN price approaches the oversold region. As a result, the current pattern might change direction to the upside and the stock price will grow soon.

Hence, the next bullish corrective pattern may extend to the $349.75 upper resistance mark, offering a good buy entry opportunity in its long-term perspective.

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

$COIN market is bullish in its medium-term view. The price is above the EMA-50, indicating a bullish momentum and the high impact of buyers in the market.
The sustained bullish pressure to a $197.43 high level in the last session has enabled the stock price to maintain its strength above the supply levels at its recent price level.

Meanwhile, the current price of NASDAQ: COIN at a $198.75 low value above the supply trend lines has not stalled the condition of the share market, as it remains intact.

Further, investors may seize the opportunity to buy the stock at a lower price and look for more gains ahead.

Hence, if the bulls increase their confidence in the stock investment, the price will grow, and the share market could see another uphill trend by reversing from the $198.75 current support mark and hitting the $302.40 resistance barrier, attracting big players to drive the stock price higher.

Additionally, the NASDAQ stock market is approaching the oversold region of the daily stochastic, suggesting the share price will grow soon, and a possibility of a potential bullish reversal at the $198.75 support level is imminent.

In light of this, the $COIN price could turn positive to hit the $349.75 upper resistance value in the days ahead in its medium-term perspective.

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