Top analyst predicts new S&P 500 stock could soon double amid latest move
Top analyst predicts new S&P 500 stock could soon double amid latest move originally appeared on TheStreet.
Coinbase Global (Nasdaq: COIN), the largest crypto exchange in the U.S., launched perpetual futures trading in the U.S. on July 21.
The statement said that users can trade with up to 10 times leverage and fees as low as 0.02%. As the name suggests, these derivatives don't expire on a certain date.
As the product was already anticipated, it didn't lead to a price rally for the stock, which was added to the S&P 500 list in May.
Notably, COIN stock hit an all-time high (ATH) of $444.64 on July 18. The same day, Trump signed the GENIUS Act — the first major crypto-related law in the U.S.
Ali Martinez, a popular crypto analyst known as @ali_charts on X, recently shared a price analysis chart for the stock.
The analyst spotted the COIN stock forming a "cup and handle" pattern, which indicated a bullish run soon.
Join the discussion with Scott Melker on Roundtable here.
Let's analyze the chart pattern in detail.
First, the stock's price began a steady decline from around $350 in late 2021 to around $35 through the end of the year, forming the left side of the cup.
Next, it began recovering in value from early 2023 to around $350 through the end of 2024, forming the right side of the cup.
From late 2024 onwards, the price entered a sideways phase, forming the cup's handle.
From mid-2025 onwards, it looks like the stock's price wants to break out of the handle’s resistance level. If it indeed happens, the Coinbase stock's price could hit the target range of $950-$1,550, as Ali predicts.
COIN was trading at $426.95 at the time of writing.
Disclaimer: The content above is intended for informational purposes only and should not be taken as financial advice. Do your own research before investing.
Top analyst predicts new S&P 500 stock could soon double amid latest move first appeared on TheStreet on Jul 21, 2025
This story was originally reported by TheStreet on Jul 21, 2025, where it first appeared.
