Technical analysis by JoE about Symbol COINX: Buy recommendation (12/5/2024)

On the weekly chart of COIN (Coinbase Global, Inc.), we see a classic Cup and Handle pattern forming over an extended period. The breakout above the handle’s resistance is supported by strong price momentum, as indicated by the Ichimoku Kinko Hyo cloud and RSI strength. Key highlights: •Breakout Level: ~$330 confirmed, heading towards $365 resistance zone. •Ichimoku Analysis: Price action is well above the cloud, signaling bullish momentum. •Volume Profile: Strong volume at breakout adds credibility to the move. •Next Target: Possible upward momentum toward $500+ if the breakout holds and market conditions remain supportive. This breakout marks a significant move for COIN , offering an excellent opportunity for bulls. Keep an eye on volume and overall market sentiment to confirm further upside potential.