Coinbase (COIN) Stock Price Plunges After Trump Tariff: Will $100 Be the Next Support?
Highlights
- With Trump's tariff discussion, the Coinbase stock price plunged 50% from its ATH.
- The recent 10% baseline tariff news crashed the crypto and stock markets, affecting all assets.
- Experts predict a COIN stock price crash to $100 as it moved down from an asending channel.
The Trump tariff has brought major turbulence in the financial market, aiding the Coinbase stock price crash. Coinbase, being a crypto exchange, is heavily influenced by the crypto market’s performance, which is quite poor in the current scenario. Bitcoin’s price has declined to $83k, and the rest of the altcoins are under immense bearish pressure, pressuring the COIN stock price as well. Experts believe it could crash to $100 or even lower if the condition persists.
Coinbase Stock Price Crashed 50% With Trump Tariff
Donald Trump’s announcement of a 10% baseline tariff on all imports has affected the stock market and the rest of the financial market significantly. The $S&P 500 has experienced the worst drop since June 2020, the pandemic crash. The major stock price crashed, and the Coinbase (COIN) stock is no exception.
In the last week alone, the COIN stock price has declined 25% and 50% from its ATH of $343.62 set in December 2024. Meanwhile, the price of gold surged, bringing more uncertainty to the stock industry.
Although analysts believed the Fed may introduce rate cuts, the economic uncertainty may remain steady for some time, affecting COIN further.
Coinbase Stock Price Risks Fall to $100, What’s Next?
Coinbase stock had a steadily upward trend throughout 2024 before hitting its peak in December and following a massive downtrend. At present, it trades at $170.76, bearing a 6.6% loss today, but experts anticipate a further downtrend.
Experts like Ali Martinez recently posted that the popular crypto exchange’s stock has broken out of its ascending channel, which could result in a massive correction to $130 or even $100. This is because the Trump tariff has triggered a trend shift, affecting the COIN stock price.
An ascending channel tends to rebound from the lower boundary to the upper boundary and faces rejection and drops back before finding support and repeating the cycle. Recently, COIN broke out of this ascending channel, indicating a trend shift that could lead to a correction to $130 or even $100.
Other Coinbase stock price predictions anticipate an $80 target in a bearish case or $400 in a crypto boom amid its revenue growth. Notably, the uncertainty is likely to stay unless investors’ sentiments get over the trade war.
Frequently Asked Questions (FAQs)
1. How is the crypto market affecting Coinbase stock price?
2. What is the experts' prediction for the COIN stock price?
3. Can COIN stock recover?
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