COIN Elliott Wave technical analysis [Video]
|COIN Elliott Wave analysis
Function: Trend.
Mode: Motive.
Structure: Impulsive.
Position: Wave (Y) of {B}.
Direction: Uptrend.
Details: Price is expected to accelerate in wave 3 of (3), often a high-momentum segment in an impulsive pattern.
Coinbase Global Inc. (COIN) is developing an impulsive pattern on the daily chart. Orange waves (1) and (2) are complete, and price is advancing into wave (3). Subwave 1 of (3) has ended, and subwave 2 is currently in progress. Upon wave 2's completion, wave 3 of (3) should begin, potentially targeting the 161.8% Fibonacci projection of wave (1).
The internal wave structure remains valid with no overlap and follows classic Elliott Wave guidelines. This setup reflects a textbook motive formation, with alternation and Fibonacci-based projections supporting the bullish outlook.
COIN Elliott Wave analysis
Function: Trend.
Mode: Motive.
Structure: Impulsive.
Position: Wave IV of (c).
Direction: Uptrend.
Details: Targeting the 161.8% Fibonacci projection of navy blue wave {1}, suggesting the completion of navy blue wave {3}.
On the weekly chart, COIN remains in a long-term bullish impulse sequence, currently moving through wave (V) of {III}. The prior wave (IV) has completed, and the next upward leg aims for the 161.8% Fibonacci extension of wave {1}, a standard target for wave 3.
The wave structure is intact, with proper separation between waves and alignment with motive principles. This setup continues to support an extended bullish move in line with higher-degree wave cycles.
COIN Elliott Wave analysis [Video]
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.