The crypto market is experiencing a significant downtrend, which is also putting pressure on the Coinbase (COIN) stock price. As Coinbase is one of the largest U.S.-based crypto exchanges, its performance is affected by the performance of digital assets. As these plummeted heavily, the COIN price declined. But how much further can it drop? Let’s discuss this.
Crypto Market Plunge Drags Coinbase Stock Price Down
Coinbase stock price is experiencing a sharp decline due to the broader crypto market crash. As the market cap of digital assets plummeted to $2.81 trillion from its earlier peak of $3.5 trillion, this exchange’s valuation was also affected.
At the time of reporting, COIN stock trades at $215.64, having declined 10% over the last five days. Although the stock is recovering today (3.49% up), the fear of a further crash remains, as the stock’s overall movement shows further weakness.
Broader Stock Market Turbulence Amplifies Pressure
Interestingly, along with the decline in the Coinbase stock price, the rest of the stock market is experiencing turbulence. The technology sector, especially the one linked to the crypto market, shows signs of instability. More importantly, high interest rates and regulatory uncertainty add a burden.
Blind, an analytics platform, pointed out the downtrend in Tesla, Coinbase, Salesforce, and other stocks. However, the worrisome part is that these stocks have lost trillions of dollars in valuation over the last two months, generating fearful sentiments about the stock market’s downtrend.
As it has not been long since the recent Stock market crash, the downtrend in COIN stock price and others are concerning.
How Low Can Coinbase Stock Price Go?
The COIN stock price has historically shown high volatility, with its year’s high being $298.22 in the middle of February 2025. Considering this performance, some analysts anticipated the COIN stock would hit $500, but the cryptos’ downtrend brought a different outcome.
If the crypto market correction deepens, the stock’s value might face additional pressure. However, other than that, analysts reveal that it has recently broken out of a symmetrical triangle, which could result in a massive decline to as low as $177.
According to Ali Martinez, COIN could test its $170-$180 range, with its moving out of the summetrical triangle pattern. Adding this to the broader market selloff could push the stock even lower, potentially revisiting its 2023 low.
However, if the crypto market recovers and gains bullish momentum, the COIN stock price might regain momentum, finding stability above $250.
Conclusion
Coinbase’s stock fate remains intertwined with the crypto market. However, regulatory clarity, such as the US SEC dropping the Coinbase lawsuit, and other macroeconomic factors are helping with the recovery.
If the recovery stays maintained and results in strong uptrends, the COIN stock price might hit $250. In contrast, it might crash to $177.
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