Robinhood shares slip below $106.2–$114.72 range as selloff intensifies

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Robinhood slides 4.41% to $110.45 today

Highlights

Robinhood's launch of its Ethereum Layer 2 Robinhood Chain generated over 1 million active wallets and $3.1 billion in trading volume within two weeks.
Ark Invest reduced its exposure to Robinhood by selling $3.2 million in shares, potentially contributing to the recent supply overhang.
Robinhood shares face near-term selling pressure below key averages, with expected consolidation in the $106.2 to $114.72 range, as mixed technical signals persist.

Blockchain expansion and Ark’s sale shift stock sentiment

Robinhood launched its Ethereum Layer 2 network, Robinhood Chain, on July 1, 2026, and achieved rapid traction by surpassing 1 million active wallets and generating $3.1 billion in decentralized exchange trading volume in its initial two weeks, according to Cryptobriefing. This initiative represents an expansion of Robinhood’s blockchain capabilities and introduces a potential new revenue stream centered on crypto transaction activity. Meanwhile, Ark Invest reduced its holding in Robinhood by selling $3.2 million worth of shares, as reported by Theblock, an action that may have added to the recent supply overhang.

Resistance levels cap gains as momentum indicators remain neutral

The price of HOOD is trading below the $112.82 MA-20 and $113.18 MA-50 on the hourly chart, while remaining above the $102.01 MA-200 on the daily timeframe. Immediate resistance is established at the Ichimoku Kijun level of $112.73. The Moving Average Convergence Divergence (MACD) indicates a buy signal, and the Average Directional Index (ADX) is neutral, signifying muted trend momentum. The Relative Strength Index (RSI) sits in buy territory at 51.98, whereas both the Stochastic RSI and Commodity Channel Index (CCI) register neutral readings, confirming the absence of clear overbought or oversold pressures. Bull/Bear Power shows buyers holding some intraday advantage; meanwhile, the Awesome Oscillator remains neutral, reflecting the indecisive tone of current momentum indicators.

Sideways consolidation likely as volatility bands define outlook

Over the next 2 to 3 sessions, HOOD is expected to trade within a range of $106.2 to $114.72, reflecting typical volatility band relative to current levels. The most probable scenario is for the stock to consolidate sideways in this interval, with a 63% probability of upward movement and a 37% likelihood of a further decline. A break above $112.73 would suggest a potential move higher toward the top of the short-term range, while a fall below $106.2 would open the way for deeper retracement.

Anton Kharitonov, expert at Traders Union, notes that Robinhood’s expansion into Ethereum Layer 2 signals ambitious moves in blockchain, but early traction has centered on speculative activity rather than long-term fundamentals. He sees continued Ark Invest selling and persistent price weakness below key hourly averages as factors dampening sentiment and limiting upside for now. Consolidation is likely while momentum indicators remain mixed. "Until HOOD reclaims the $112.73 resistance, I remain cautious and see little case for aggressive buying here."

Earlier, analysts noted that Robinhood's bullish momentum was supported by strong technical buying and new product developments, particularly the launch of Robinhood Chain. The latest price action and user growth on the blockchain network introduce a potential shift in underlying drivers, making the $112.73 Ichimoku Kijun level a key threshold for traders to monitor in assessing breakout or consolidation scenarios.

Source of Data: HOOD 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.