Coinbase (COIN) Stock Jumps 16% as Retail Investors Boost Bitcoin and Ethereum Holdings

Coinbase (NASDAQ: COIN) stock surged 16% in the latest trading session, closing at $164.32 after gaining $23.23, according to TradingView data. The rally followed comments from CEO Brian Armstrong, who revealed that Coinbase’s retail users accumulated significant amounts of Bitcoin (BTC) and Ethereum (ETH) during the recent crypto market downturn. Shares opened near $141 and climbed steadily throughout the day, reflecting renewed investor confidence in the crypto exchange.

Armstrong highlighted strong “buy the dip” behavior among retail investors, noting that customer balances remained resilient despite heightened crypto price volatility. Bitcoin and Ethereum, which generate the majority of Coinbase’s trading volume, saw the largest inflows. He added that most users demonstrated “diamond hands” behavior, with overall retail wallet balances in February surpassing December levels. These insights point to sustained engagement on the platform, even as broader crypto markets experienced weakness.

From a technical perspective, analyst Ace noted that COIN stock is testing key Fibonacci retracement levels on the weekly chart. The next major resistance sits at $186.19. A decisive move above that level could open the door to further upside targets at $279.10, $365.48, and $426.98. However, the broader structure remains corrective until COIN reclaims $186.19, while maintaining support above $125.81 preserves the higher-timeframe bullish outlook.

Wall Street analysts remain mixed but largely positive. Bernstein previously projected a price target of $212, suggesting potential for a long-term move toward $500. Several brokerages have trimmed targets amid market volatility, with updated forecasts ranging from $148 to $350, while mostly retaining Buy ratings.

Despite the stock rally and positive retail activity, Coinbase reported a Q4 net loss of $666.7 million. Armstrong has also sold over $100 million in COIN shares recently, adding to roughly $500 million in stock sales over the past year.