COIN (NASDAQ:COIN) Sitting at $282.45 High Mark, Aiming to Rally

$COIN (NASDAQ: COIN) Forecast: December 10

The Coinbase Global (NASDAQ: COIN) market is sitting at $282.45 high, aiming to rally today. The share is now set for the next bull cycle, and a swift increase is expected to follow. Consequently, buyers will be encouraged for a longer correction if there is a bullish crossover of the $405.88 peak barrier, reaching the $415.00 upper resistance level, suggesting an optimistic future for the asset.

Key Levels:
Resistance Levels: $370.00, $371.00, $372.00
Support Levels:    $273.00, $272.00, $271.00

COIN Long-term Trend: Bearish (Daily Chart)

The $COIN market price is in green and about to challenge the new resistance level as it changes direction to the upside below the supply levels. The price bar is slightly below the moving average lines, confirming its bearishness.
The interference of short-term traders in the $265.01 in the previous action has contributed to its bearish momentum.

The NASDAQ: COIN price rebounded from the mentioned support and pushed higher to a $282.45 supply level below the EMA-50 as the daily chart opens today, indicating a genuine reversal which may attempt the $405.88 prior peak barrier, if buying pressure persists.

Buyers are defending this level and trying to raise the stock price due to this price rejection. Therefore, a significant push over the previous high supply level will provide a significant barrier to the share price.

Furthermore, the NASDAQ stock market signals an uptrend. If the bulls could push harder, the resulting rally may surpass the $405.88 level and hit the $415.00 psychological level in the days ahead on the higher timeframe.

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

The NASDAQ: COIN price shows signs of an upward retracement following the completion of the bears’ momentum.
The share is witnessing renewed recovery sentiment among investors, indicating high conviction from buyers.

The trend has resumed its rising pattern but has not yet reached its target. This rise or swing up is attributed to growing investor enthusiasm and a positive market. The stock price is slightly below the moving average, suggesting a bearish trend.

The flow from the bears to the $269.15 support value in the last action also added to its bearishness lately.

As a 4-hourly session begins today, the market price of $COIN rises to $282.45 below the EMA-50, indicating a return of bulls and an improved market sentiment.

Hence, the bullish momentum might be triggered, and the share price may surge to break the previous high of $388.27 if the current support remains unmoved and the bulls increase their activities.

Notably, the NASDAQ stock is up on the daily stochastic. Therefore, if additional selling is prevented, a post-retest rally may drive prices high to hit the $405.88 resistance value in its medium-term time frame.

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