Falling Channel Ends as COIN Climbs to $190 and Signals Early Trend Shift

• COIN is now bouncing near one hundred ninety dollars which aligns with a classic Wyckoff pattern phase.
• Price has tested this zone several times and the new weekly candle suggests upward momentum may be building.
• Traders are now watching if the breakout over two hundred can push a new trend into motion with volume.

COIN has held firm near $190.32, with technical patterns pointing to a breakout attempt after a prolonged downtrend. A weekly chart update shared on May 11, 2025, outlines a reversal setup forming at the lower boundary of a falling wedge. The price structure mirrors Wyckoff’s accumulation phase, hinting at a potential phase C spring.

Falling Channel Breakout May Confirm Bullish Phase

The chart shows COIN trading within a descending channel for several weeks, recently bouncing off its lower boundary with renewed volume. A narrowing wedge pattern has taken shape, with current levels testing the edge of a structural breakout. Volume bars below the price action show accumulation beginning to rise at key support.

Price action reflects a sequence of lower highs and lower lows, consistent with Phase B of the Wyckoff model. However, the latest candle appears to mark the shift toward Phase C, indicating a possible spring before upward movement. The inset diagram visually confirms alignment with the Wyckoff methodology.

Recent closing strength near $190.32 positions the stock just below short-term moving averages. If buyers maintain momentum, the next key resistance lies between $205 and $214. A breakout from the channel could establish a higher low for COIN, shifting the market bias upward for the first time in months.

Volume Patterns and Structure Support Accumulation Thesis

Volume analysis shows a consistent increase in buying activity near the bottom of the channel. Yellow bars indicate a noticeable change in momentum, with recent sessions seeing higher relative trade sizes. The volume spike during the test of the wedge’s bottom boundary is particularly noteworthy.

The updated chart overlay includes a schematic reflecting Wyckoff’s accumulation phase. In this context, the bounce from current levels may represent a final shakeout before a rally. Traders monitoring this chart structure view it as a sign that the markdown phase may be complete.

Horizontal support has held at least three times since early 2024, strengthening the case for an emerging base. If the stock breaks above the descending trendline, it could validate a reaccumulation zone forming across multiple timeframes. Technical confluence around $190 suggests this is a pivotal level for both bulls and bears.

Is This the Start of a New Uptrend for COIN?

The primary question now facing traders and analysts is whether Coinbase has completed its downside move and begun a trend reversal. The chart pattern and structure resemble setups that have historically preceded sustained rallies in both equity and crypto-linked stocks. Traders are closely watching for confirmation through price closing above the wedge.

If COIN surpasses $200 and holds that level, the reversal thesis could gain broader traction. The setup includes a defined risk zone below $180, providing a clean technical framework for market participants. This structure attracts both short-term swing traders and longer-term accumulation strategies.

Mr. Chart Norris, who shared the update, labeled the chart “all is well,” reinforcing confidence in the current formation. The breakout potential will be tested in the coming sessions, with volume and price convergence playing a critical role. Market attention now turns to whether COIN can transition from accumulation to markup.