Coinbase Stock Price Could Cross $500 If It Follows Palantir Technologies

The financial market often experiences instability due to macroeconomic events and investors’ changing sentiments. Still, pioneers like Coinbase stock price and other has comparatively better stability due to their big brand names. Interestingly, the analysis of Coinbase stock with Palantir technologies brings interesting insights. Analysts claim the COIN price could hit $500 if it follows Planatir’s stock pattern. Here’s how.

Coinbase Stock Price to Hit $500 If This Happens

Coinbase is one of the most popular crypto exchanges and has earned investors’ interest with its significant stock price performance. The Coinbase (COIN) stock currently trades at $298.11 after a substantial surge past the earning report.

Interestingly, a stock expert has discovered a connection between the COIN stock and the Palantir Technologies (PLTR) stock, claiming that if the Coinbase stock follows the other, its value could hit $500. This comparative analysis is derived from the Ichimoku Cloud indicator, focusing on the PLTR facing a major resistance zone in mid-2024, referred to as the “last boss.”

However, this resistance zone became the stock’s “launchpad pad,” resulting in a massive upward rally. More importantly, the COIN price chart indicates that it is in a similar stage and battles a strong resistance level.

If this acted as the launchpad, it could witness a similar rally and eventually reach $500 in the optimistic scenario.

$COIN fighting last boss like $PLTR did in July 2024 Monthly chart with Ichimoku cloud shown, says Cantonese Cat

Coinbase Earning Report Exceeds Expectation, COIN Price To Rally?

The much-awaited Coinbase earnings report is finally out, exceeding all expectations. Earlier analysts anticipated that the fourth-quarter earnings would cost $2.11 per share and generate revenue of $1.84 billion.

Instead, it delivered the best quarterly revenue in the last three years, hitting $2.27 billion in revenue and $4.68 per share. Other stats include a net income of $1.3 billion ($273M in last year’s fourth quarter), a trading volume of $439 billion, up by 185% Year over year, and more.

Experts believe the surge in trading volume is due to the increased volatility in crypto assets. Notably, Coinbase overcame the recent Stock market crash, which China’s DeepSeek AI model drove.

Interestingly, the Coinbase stock price has surged significantly since the revenue report, currently trading at $298.11 after a nearly 9% surge. However, this is not on par with investors’ expectations for such a profitable quarter.

Can Coinbase Stock Price Really Hit $500?

The COIN price chart is forming the bullish cup and handle formation, which puts this stock at a critical juncture before the rally. On further analysis, COIN has recently broken above the key resistance level and is forming strong bullish momentum.

The continuity of this uptrend could result in an 89.46% rally, pushing the Coinbase stock to a new ATH of $561 or higher.

Moreover, if the COIN clears the key resistance between $324 and $360 and follows Palantir’s 2024 move, the price might hit $500. However, additional factors like strong earnings, increasing trading volumes, and a favorable macroeconomic environment also need to be considered.

What Investors Should Look Forward To?

The above expectations result in the Coinbase revenue reports showing that the crypto exchange is working with innovative and strategic moves in the industry. Moreover, its biggest supporting factor is its high demand amid collaborations, partnerships, and USDC stablecoin.

Interestingly, it could gain additional bullish momentum with the re-entry into the Indian crypto market. This, combined with a bullish uptrend, could result in the Coinbase stock price hitting $500 or higher.