Coinbase (NASDAQ: COIN) has plummeted 46% from its peak. This sharp decline mirrors a broader sell-off gripping both crypto and equity markets. The convergence of these downturns creates a critical technical juncture for the stock.
Today, we will dissect the Elliott Wave correction currently in progress. Our analysis establishes a clear potential path for the stock over the coming months, providing a strategic roadmap for traders navigating this volatility..
Elliott Wave Analysis
A clear positive correlation links Bitcoin and COIN. Both assets consistently share major highs and lows. Consequently, we expect this relationship to continue during the current downturn. Furthermore, Bitcoin now approaches its April 2025 low. It will likely retest the September 2024 low next. Therefore, COIN should follow this same path. This alignment targets the $150 area for Coinbase.
Coinbase Vs Bitcoin
The COIN weekly chart shows a higher high sequence after July's all-time highs. Since then, a larger degree pullback has started. This correction aims to correct the five-wave advance from the January 2023 low.
The pullback is unfolding as a three-wave zigzag structure. Wave ((A)) ended at $291 on August 20, 2025. Subsequently, wave ((B)) bounced to $402 by October 10, 2025. Currently, wave ((C)) is progressing and has entered the $249 equal legs area.
However, Bitcoin's suggested correction implies further COIN weakness. Therefore, we expect a move toward the $154 Fibonacci 1.618 extension into next year. This projected low should complete wave II and setup the next major rally.
COIN Weekly Chart 11.21.2025
Conclusion
COIN is undergoing a necessary weekly correction, setting up a strategic investment opportunity for next year. You can precisely time your entry into this and other trades using our Elliott Wave strategy. Our methodology identifies optimal entries after a 3, 7, or 11-swing correction completes. Furthermore, our proprietary Blue Box system pinpoints high-probability reversal zones with clarity and confidence.
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