- COIN is testing a strong resistance near $274 and could move higher if it breaks past this zone.
- Fibonacci levels show a possible target of $2,156 if the pattern holds and price momentum builds.
- A drop below $158 may signal weakness but staying above support could push prices toward the next key breakout.
Coinbase Global Inc. (NASDAQ: COIN) is showing a striking resemblance to Palantir’s ($PLTR) historical price action, according to a newly overlaid fractal analysis. The latest weekly chart suggests that COIN has been following a nearly identical trajectory to PLTR’s 2024 breakout, raising speculation about a potential parabolic move. The stock is currently trading at $274.90, reflecting a minor 0.15% decline, but its long-term Fibonacci projections suggest significant upside potential if the fractal holds.
COIN Price Action and Fibonacci Projections
The chart outlines key Fibonacci retracement and extension levels, with COIN currently testing the 0.786 Fibonacci level at $274.90. Historically, breaking above this zone has led to exponential rallies, and if COIN follows the PLTR fractal, the next major target sits at the 1.618 Fibonacci extension at $2,156.84. However, before reaching that point, intermediate resistance levels include $429.54 (0.886 Fibonacci), $873.88 (1.272 Fibonacci), and $1,266.14 (1.414 Fibonacci).
On the downside, COIN’s major support levels are located at $158.42 (0.618 Fibonacci) and $85.54 (0.5 Fibonacci). As long as the stock maintains above these levels, the overall trend remains intact, and bulls could drive prices higher in line with the projected fractal.
PLTR Fractal Overlay: Is History Repeating?
The chart overlaying COIN’s price action with Palantir’s ($PLTR) 2024 breakout suggests a strong fractal similarity. In mid-2024, PLTR encountered resistance near the 0.786 Fibonacci level, consolidated briefly, and then skyrocketed past the 1.618 Fibonacci extension. If COIN follows the same trajectory, it may consolidate around $274-$300 before initiating a breakout beyond $429.
This comparison is speculative but provides a framework for understanding COIN’s potential path. Market sentiment, institutional adoption, and macroeconomic conditions will play a crucial role in determining whether COIN follows through on this projected move.
What’s Next for COIN?
While fractal comparisons can be insightful, they are not a guarantee. If COIN continues respecting Fibonacci levels and follows the PLTR breakout pattern, a significant move could be on the horizon. However, failure to hold above $274 may lead to a retest of $158, where long-term buyers could step in. The next few weeks will be pivotal in confirming whether COIN is set for a historic run or if this fractal is just a coincidence.
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