SPOT Elliott Wave Analysis – Trading LoungeSpotify Technology S.A. (SPOT) – Daily ChartSPOT Elliott Wave Technical Analysis

  • Function: Trend
  • Mode: Impulsive
  • Structure: Motive
  • Position: Wave 5 of (1)
  • Direction: Upside within wave 5

    • Details: With ongoing pullbacks occurring in three-wave patterns, the outlook remains bullish for further upside within Minor wave 5, potentially targeting the $500 level.Spotify Technology S.A. (SPOT) – 1H ChartSPOT Elliott Wave Technical Analysis

  • Function: Trend
  • Mode: Impulsive
  • Structure: Motive
  • Position: Wave {ii} of 5
  • Direction: Seeking a bottom in wave {ii}

    • Details: Evidence suggests wave {ii} may still be unfolding, as the latest upward movement aligns with a three-wave structure. This could imply a final leg lower before the upward trend resumes in wave {iii} of 5.Summary of SPOT Elliott Wave AnalysisThis analysis examines Spotify Technology S.A. (SPOT) on both daily and 1-hour charts, applying Elliott Wave Theory to analyze current trends and anticipate future price direction.

  • Daily Chart: SPOT is advancing within Minor wave 5 of (1) on the daily timeframe, maintaining a three-wave pullback formation. This suggests the upward trajectory in wave 5 remains valid, with a potential target around $500.

  • 1H Chart: The 1-hour chart indicates that wave {ii} may still be developing, with an additional minor pullback expected before continuing upward in wave {iii} of 5.

    • Technical Analyst: Alessio BarrettaMore By This Author:Elliott Wave Technical Analysis: Bitcoin Crypto Price
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