Riot Platforms, Inc. (RIOT) Elliott Wave technical analysis [Video]
|Riot Platforms, Inc. (RIOT) – Elliott Wave analysis
Daily chart analysis – Technical overview
Function: Trend.
Mode: Motive.
Structure: Impulsive.
Position: Wave {v} of 3.
Direction: Bullish.
Details: Wave {v} of 3 likely targets the 161.8% Fibonacci level of Wave 1.
On the daily chart, Riot Platforms, Inc. (RIOT) maintains a strong upward trajectory, advancing within Wave {v} of 3. A breakout above the resistance trendline is expected, potentially signaling the continuation of an impulsive move. As Wave {v} of 3 is often the extended leg in Elliott Wave theory, a projected target near the 161.8% Fibonacci extension of Wave 1 is a reasonable expectation. This setup offers an attractive short-term bullish trading opportunity, aligned with momentum.
Weekly chart analysis – Technical overview
Function: Trend.
Mode: Motive.
Structure: Impulsive.
Position: Wave C of (B).
Direction: Bullish.
Details: Following a channel breakout, prices may rally sharply to complete Wave C of (B).
On the weekly timeframe, RIOT is progressing through an impulsive wave within a larger corrective structure. The current move is identified as Wave C of (B), with a potential target around the 100% Fibonacci projection of Wave (A). This wave often produces a strong upward push, especially after a breakout from a parallel channel. While the bullish structure remains intact, traders should monitor key resistance zones and potential consolidation before the trend resumes.
Riot Platforms, Inc. (RIOT) Elliott Wave technical analysis [Video]
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