This has been a tough decline for $COIN, we have had Wave 3 in red at the 50 Day MA since this decline and the price is just at this level now, I suspect a relief bounce will come here shortly....the decline looks similar to $NIO's but the difference with $NIO is that it $NIO is still in a valid impulse wave, $COIN is not.
A bounce and a rejection at the blue line at $87 would signal that there is more downside to go here.