Coinbase (COIN) Shares Drop to Three-Month Low

The Coinbase (COIN) chart shows that, for the first time in 2025, the share price has fallen below the psychological $250 level.

Bearish factors impacting COIN:

One key factor driving negative sentiment is the confirmed hack of the ByBit cryptocurrency exchange, raising concerns about deposit security in the industry. According to media reports:
→ The attack may have been carried out by North Korean hacker group Lazarus.
→ Hackers allegedly drained Ethereum tokens worth between $1 billion and $5 billion from ByBit’s wallet.
→ This is the largest crypto hack in history.

Another factor is growing concerns about the US economy, which have negatively impacted stock markets. As reported by Reuters:
→ The S&P 500 index (US SPX 500 mini on FXOpen) fell by 1.66% on Friday, marking its worst performance of the year.
→ The decline followed a drop in Walmart’s share price and weak consumer sentiment data.
→ Friday’s Purchasing Managers’ Index (PMI) figures were below previous levels. Investors are now focusing on this week’s release of the Personal Consumption Expenditures (PCE) price index—the Federal Reserve’s preferred inflation gauge.

Technical Analysis of Coinbase (COIN) Chart

COIN price movements form an upward channel (marked in blue), but several bearish signals are emerging:
→ The price has dropped into the lower half of the channel.
→ The psychological resistance level has shifted from $300 to potentially $250.

If bearish sentiment persists, COIN’s share price could fall further towards a support zone consisting of:
→ A bullish gap (marked in purple).
→ The lower boundary of the blue channel.
→ The psychological $200 level.

Coinbase (COIN) Price Forecast

Wall Street analysts remain cautiously optimistic following Coinbase’s quarterly earnings report on 13 February, which exceeded expectations.

According to TipRanks:
→ 10 out of 21 analysts recommend buying COIN.
→ The average 12-month price target for COIN is $350.

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