COIN (NASDAQ:COIN) Will Grow Soon

$COIN (NASDAQ: COIN) Forecast: August 6

The Coinbase Global (NASDAQ: COIN) market will grow soon.
The stock market will grow shortly as selling pressure is ending soon, and the share price may be ready for a rise. If buy investors can shift their focus, prove stronger, and the price exhibits sustainability above the $389.16 resistance value, its upside could extend further to reach the $415.96 upper resistance level, restoring the bullish sentiment in the market.

Key Levels:
Resistance Levels: $380.00, $381.00, $382.00
Support Levels:    $148.00, $147.00, $146.00

COIN Long-term Trend: Bearish (Daily Chart)

NASDAQ: COIN market is at the point of reversal and will grow again as the selling pressure seems exhausted in its higher time frame. The share price is below the moving average due to the high order flow of the sell traders.
The sustained bullish pressure at $311.00 in the last session has made the stock market remain below the supply trend levels at its recent low.

Actions from the short traders dropped the $COIN price even further to a low of $300.04 below the EMA-50 as the daily chart opens today.

Meanwhile, buyers could take advantage of this to purchase the stock at a discount for future gains.

The share price, however, might experience an upward reversal at the $300.04 low level to retest the previous high of the $389.16 level if there is a fresh spike in buyer demand, offering stock buyers excellent recovery potential.

In conclusion, the NASDAQ stock price is on the verge of an upside reversal as the market has fallen to the oversold region of the daily stochastic, implying that the selling pressure is likely to end soon and will compel buyers to resume sooner.

Hence, the next bullish corrective pattern may extend to the $415.96 high mark sooner in its long-term perspective.

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

On the medium-term chart, $COIN is showing a downward movement and at a possible reversal. This is clear, as we can see the price continues to make lower highs and lower lows.
The market price drops further to a $300.04 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 of the NASDAQ: COIN has dropped below the daily stochastic 20% zone, indicating that an upside reversal is imminent.

It shows that the pair is now trading in the oversold area of the market, suggesting that the selling pressure is likely to run to an end.

Hence, the emergence of buyers in the oversold region of the market is imminent.

In light of this, the NASDAQ stock price may reverse and pump higher to reach the $415.90 and extend to a $436.30 upper resistance level in the days ahead in its medium-term forecast.

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