Key Insights
- Coinbase stock price has rebounded to key support this week.
- Rothschild analysts boosted the COIN stock target and expect it to jump by 25%.
- The stock has formed an ascending triangle pattern, pointing to more gains.
Coinbase stock traded near $212 this week after recovering sharply from its April lows, while analysts continued raising targets as Bitcoin held above $80,000.
The rebound followed renewed crypto market strength and growing optimism around stablecoin regulation in the United States.
Top Analyst Boosts Coinbase Stock Price Outlook
Wall Street analysts are optimistic that the COIN stock price will rebound by 25% from the current level. In a note on Thursday, Rothschild boosted its target for Coinbase shares from $254 to $263. If this happens, it will be a 25% upside from where the stock is today.
The analysts based their argument on the fact that Coinbase will continue doing well now that Bitcoin and other altcoins are rising. Indeed, Bitcoin has moved from $60k earlier this year to $82,000 today. Other coins like Venice Token, Ethereum, and Solana have rebounded.
Historically, Coinbase stock does well when Bitcoin and the crypto market is rising as this leads to higher transaction volume.
Rothschild joins other analysts who have maintained a relatively bullish outlook. For example, Mizuho boosted its target from $170 to $200, while HC Wainwright hiked the target to $310. Wedbush is also bullish on the company.
Coinbase Shares to Benefit From the CLARITY Act
In its note on Thursday, Rothschilds pointed to the CLARITY Act, which passed in the Senate Banking Committee on Thursday. Coinbase spent a lot of time lobbying for the bill and the stablecoin yield issue.
Indeed, the company single-handedly stopped the initial markup a few months ago, citing that it excluded stablecoin returns. Banks had advocated for these provisions, noting that they would lead to capital flight from their institutions.
Coinbase has become one of the top companies in the stablecoin industry and is leading in agentic commerce. Its stablecoin business is based on its partnership with Circle, the creator of USDC stablecoin. It made over $1 billion in stablecoin revenue last year and will be a key beneficiary of the CLARITY Act. Analysts anticipate that the amount of stablecoin in circulation will jump to over $4 trillion by 2030.
Coinbase is also making bets to become a more different company than what it was a few months ago. Its goal is to become an “everything” exchange. It has already added stocks and ETFs to its platform, a move that has put it in direct competition with companies like Robinhood and WeBull. It also launched a prediction marketplace, tapping into one of the fastest-growing industries.
The company has also moved to reduce its costs by embracing artificial intelligence technology. It recently announced that it was laying off 14% of its workforce. In a statement, the CEO noted that the cuts were necessary as its use of AI was making some tasks redundant.
COIN Stock Price Technical Analysis
The daily chart shows that the COIN share price has crawled back in the past few months. It has jumped from the year-to-date low of $140 to $212 today.
A closer look at the chart shows that it has formed an ascending triangle pattern. This pattern has a horizontal resistance and an ascending trendline. In this case, this trendline links the lowest points since February.
The stock has also jumped to the 23.6% Fibonacci Retracement level. It has jumped above the 50-day moving average.
Therefore, the most likely Coinbase stock price forecast is bullish. This view will be confirmed if it moves above the upper side of the triangle pattern. If it happens, the next level to watch will be the 38.6% retracement point at $256.
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