COIN (NASDAQ:COIN) Price Will Soar Higher

$COIN (NASDAQ: COIN) Forecast: February 24

After completing the lows as usual, the Coinbase Global (NASDAQ: COIN) price will soar higher to retest the $349.75 prior high mark. The share price, having reached the oversold region, is bound to reverse at the $234.76 current daily bearish candle and face the positive side soon. If the bulls are able to break up the mentioned supply level, then we can expect good upside momentum up to the $360.00 upper high value, indicating an increase in investors’ interest.

Key Levels:
Resistance Levels: $298.00, $299.00, $300.00
Support Levels: $176.00, $175.00, $174.00

COIN Long-term Trend: Bearish (Daily Chart)

The NASDAQ: COIN price portrays a bearish market trend in its long-term outlook. Meanwhile, the share price will soar higher soon as the selling pressure subsides. The stock price responded to the shift in the market structure and is currently below the moving average, suggesting a bearish momentum.
The bears’ performance on the stock market in the past few days has made the price stay below the moving average in its recent low.

The $COIN found support at the $234.76 value below the ema-50 as the daily session begins today due to the inflow from the short traders. However, this trend will soon be overridden by the bulls and the stock price will soar higher as the market is oversold.

Hence, if the bulls increase their confidence in the NASDAQ stock investment, the share market will soar higher and could see another uphill trend by reversing from the $234.76 current support mark and hitting the $349.75 resistance barrier, attracting big players to drive the share price higher.

Notably, there is a possibility of price rejection at the mentioned support value as the stock market reaches below the 20% range of the daily stochastic, suggesting the stock market is oversold, bringing the emergence of the bulls to resume the bullish trend soon.

In light of this, the $COIN price might soar higher to reach the $360.00 supply level in the coming days in its higher time frame.

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

The NASDAQ stock price will soar as the selling pressure is about to end in its medium-term outlook. The stock price is on the verge of an upside reversal and may break up the crucial resistance level. The share price is below the moving average due to the high order flow from the sell traders, indicating a bearish trend.
The intervention from the sell traders at the $242.55 low mark in the last session has made the stock market price drop below the supply trend line in its recent low.

The $COIN price dropped significantly below the resistance trend line at the $234.90 support level as the 4-hourly chart begins today due to a high bearish impact on the market price.

Thus, if the bulls can put extra effort into the price action, the stock price could turn positive and soar higher to break above the $349.75 peak level; as a result, further selling pressure will be put into hibernation.

In addition, dropping to the oversold region indicated by the price projector shows a high possibility for price reversal.

Then, there is a high probability of the NASDAQ: COIN price reaching its recent swing high at $349.75, and this may soar higher to reach the $360.00 upper resistance level in the coming days in the medium-term outlook.

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