COIN Elliott Wave technical analysis [Video]

Peter Mathers TradingLounge

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]

Author

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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