Following COIN in the last two weeks was like watching a movie in slow motion.
Two weeks ago we saw COIN parking for the weekend right below its best respected moving average resistance lines. It paused 5 cents below the body resistance line, the 21-week EMA.
A week ago COIN parked for the weekend just below its wick resistance line, the 29-week EMA, after it broke the body resistance line during the weekly trading session.
In the following weekly session (last week) COIN turned on its afterburner and smashed through the wick resistance line as well. It did so in an impressive way:
Stage 3 is now complete.
Next, we should monitor whether the price holds above the 29-week EMA.