Coinbase (COIN) Shares to Be Added to the S&P 500
According to media reports, shares of the cryptocurrency exchange Coinbase Global (COIN) are scheduled to be added to the S&P 500 index (US SPX 500 mini on FXOpen) on 19 May, replacing Discover Financial Services (DFS), which is in the final stages of being acquired by Capital One Financial (COF). The deal, having received all necessary approvals from regulators and shareholders of both companies, is expected to be completed on 18 May 2025.
As a result, Coinbase Global will become the first cryptocurrency-related company to be included in the S&P 500 index — a development that sent COIN shares surging to their highest level since late February. Inclusion in the S&P 500 is considered a bullish catalyst, as it suggests increased demand for the stock from index funds and signals improved prospects. Analysts have taken note; Rosenblatt Securities raised their price target for Coinbase Global Inc. (COIN) from $260 to $300.
Technical Analysis of COIN Stock Chart
In previous analyses of the COIN stock chart, we:
→ drew a descending channel;
→ identified a resistance zone in the $225–240 range (highlighted in purple).
However, the surge in demand triggered by the news of COIN’s inclusion in the S&P 500 has led to:
→ the descending channel appearing to lose relevance entirely;
→ the price gapping above the purple resistance zone;
→ increasing grounds to draw a potential upward trend trajectory (shown with blue lines).
Given the current momentum, it is possible that the COIN share price could rise towards the psychological $300 level, which acted as resistance earlier in 2025.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
According to media reports, shares of the cryptocurrency exchange Coinbase Global (COIN) are scheduled to be added to the S&P 500 index (US SPX 500 mini on FXOpen) on 19 May, replacing Discover Financial Services (DFS), which is in the final stages of being acquired by Capital One Financial (COF). The deal, having received all necessary approvals from regulators and shareholders of both companies, is expected to be completed on 18 May 2025.
As a result, Coinbase Global will become the first cryptocurrency-related company to be included in the S&P 500 index — a development that sent COIN shares surging to their highest level since late February. Inclusion in the S&P 500 is considered a bullish catalyst, as it suggests increased demand for the stock from index funds and signals improved prospects. Analysts have taken note; Rosenblatt Securities raised their price target for Coinbase Global Inc. (COIN) from $260 to $300.
Technical Analysis of COIN Stock Chart
In previous analyses of the COIN stock chart, we:
→ drew a descending channel;
→ identified a resistance zone in the $225–240 range (highlighted in purple).
However, the surge in demand triggered by the news of COIN’s inclusion in the S&P 500 has led to:
→ the descending channel appearing to lose relevance entirely;
→ the price gapping above the purple resistance zone;
→ increasing grounds to draw a potential upward trend trajectory (shown with blue lines).
Given the current momentum, it is possible that the COIN share price could rise towards the psychological $300 level, which acted as resistance earlier in 2025.
This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.