Coinbase stock price forecast: Watching $142.23 support as COIN drops 5.53%

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Coinbase slides 5.53% today

Highlights

Coinbase and Cardless introduced a USDC-backed credit card, expanding collateralized credit products and potentially unlocking new revenue streams.
Coinbase strengthened its digital asset custodianship role by managing Hyperliquid’s USDC treasury wallet and completing a major deployment milestone.
COIN/USD trades below key moving averages with strong bearish momentum signals, and is expected to consolidate between $142.23 and $163.73 as downside risk prevails.

Stablecoin-backed credit and treasury moves as ecosystem expands

Coinbase and Cardless launched a USDC-backed credit card, enabling users to secure credit lines using their stablecoin deposits on the platform; this expansion into collateral-backed consumer credit was reported by MoneyCheck and CoinCentral and may increase platform usage and create incremental revenue opportunities. Separately, Coinbase became the official deployer and manager of Hyperliquid’s USDC treasury wallet through the activation of the AQAv2 framework, as noted by cryptotimes.io, thereby enhancing its presence in digital asset custodianship and infrastructure. On June 8, Coinbase completed a key USDC treasury deployment milestone, according to coinpedia.org, reflecting its ongoing role in facilitating stablecoin flows, though price action has remained under broader selling pressure.

Bearish momentum confirmed as key supports surrender

Technically, COIN is trading below the MA-20 at $156.10 and MA-50 at $165.98 on the hourly chart, as well as beneath the long-term MA-200 positioned at $243.94 on the daily timeframe. Immediate resistance is defined by the Ichimoku Kijun at $157.19, while key support is identified at $142.23. Momentum indicators show persistent weakness: MACD and ADX are both on Sell, RSI is near 32, CCI is signaling Sell, with both Stochastic RSI and BBP in Oversold territory. The Awesome Oscillator is neutral, but the alignment of oscillators points to strong bearish momentum intraday.

Range-bound trading expected as reversal risk remains muted

In the short term, the expected volatility band is $142.23 to $163.73. The baseline scenario anticipates further consolidation within this range, with a low probability for an upside reversal. A bullish breakout would require price to overcome resistance at $157.19, while loss of support below $142.23 would likely trigger a renewed wave of selling.

Viktoras Karapetjanc, analyst at Traders Union, sees underlying strength in Coinbase’s business model despite current technical weakness. He notes that new product launches and strategic partnerships are reinforcing Coinbase’s position in the digital asset ecosystem. However, the price remains under downward pressure and is yet to reflect these operational positives. "If Coinbase can maintain momentum on institutional product integration, I expect a constructive shift in sentiment once the technical structure stabilizes."

Previously it was reported that analysts saw persistent downside pressure on COIN with limited prospects for a meaningful recovery amid weak technical momentum and oversold conditions. The current environment reinforces this cautious outlook, with the stock unable to retake key resistance and volatility set to remain elevated, so traders should monitor $157.19 as a critical pivot for any potential shift in trend.

Source of Data: COIN Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.