Technical analysis by BenRoses about Symbol COINX on 5/16/2025

1. Price Action – Strong Breakout Potential Price has ripped straight up from ~$210 to $267+, a 25%+ move in just a few sessions. This vertical acceleration suggests strong institutional demand. It’s now testing the bottom of the prior supply zone ($280–$300) — if it breaks and holds above $280, the prior distribution becomes accumulation. That would open up $310+ targets quickly. 2. Volume – Signs of Accumulation Recent volume surge = signs of smart money re-entering. Notably, volume has increased on green candles, suggesting aggressive buying, not just short covering. If this move sustains volume on the next leg, bulls are in control short-term. 3. RSI – Overbought Can Stay Overbought RSI is above 70, yes — but in strong uptrends, RSI can remain overbought for extended periods. Think of RSI 70+ as a "momentum zone", not an automatic sell. No bearish divergence yet, so momentum is still in favor of bulls. 4. MACD – Bullish Momentum Still Intact MACD histogram is flattening, but lines are still wide and bullish. No confirmed bearish crossover yet. If price consolidates sideways and MACD resets slightly without crossing, it could be coiling for another leg up. 5. Sentiment + Macro Crypto sentiment is improving, with Bitcoin and Ethereum reclaiming strength. COIN is a beta play on crypto adoption — and institutional participation in crypto markets helps COIN directly. If broader crypto rallies, COIN could ride a sector tailwind. 6. Fib + Structural Level COIN is retracing about 78.6% of the prior down move — while this is a reversal zone typically, if price breaks above this, it implies a full retrace and bullish reversal. That would target Dec highs around $340. Bullish Trigger Levels Break and hold above $280 = confirmation bulls absorbed prior supply. Volume needs to stay elevated — otherwise this could be a “last gasp” rally. If $280 breaks, next stop: $300–$320. Bullish Setup Entry: Above $260 on volume Stop: Below $240 Targets: • Short-term: $295–$320 • Medium-term: $330–$340 Final Thought: This is a high-stakes decision zone. If bulls can punch through the supply wall, we could see explosive continuation. But if price stalls and momentum fades here, it may set up the perfect bull trap. Godspeed!