Coinbase Stock Stuck Above Piper Sandler's Price Ceiling

Coinbase's stock price has been pinned to a suffocating technical range, trading at $185.39 and stuck between $183.87 and $185.62 for the past 24 hours.

The company's fundamental pressure is real, with Q1 2026 revenue of $1.4 billion down 21% quarter-over-quarter and a net loss of $394 million.

Piper Sandler maintained its Neutral/Hold rating and raised its price target to $170 from $146, but the stock is trading 9% above that ceiling.

The chart shows a stacked wall of overhead supply concentrated between $186.05 and $190, with moving averages indicating a bearish trend.