Coinbase (COIN) and Circle (CRCL) shares are sliding in pre-market trading as traders position ahead of Friday's US PCE inflation report. COIN is testing support near $190 while CRCL has fallen to a ten-day low, with CRCL also weighed down by a leadership change. Three Federal Reserve officials speak this week and could move the odds of an October rate hike.
Coinbase and Circle stocks are heading into a volatile week as traders await the US Personal Consumption Expenditures inflation data, due September 30. Three Federal Reserve officials, John Williams, Austan Goolsbee and Lorie Logan, are also scheduled to speak between September 28 and October 2, and their remarks could shift the odds of a Fed rate hike.
Traders Brace for PCE Inflation Data
Data from MarketWatch shows investors expect headline PCE inflation at 3.6%, down from 3.7% in July 2026. Core PCE is expected to rise 0.3% month-on-month, while the year-over-year reading is expected to slip from 3.3% in July to 3.2% in August.
Bitmine Chairman Tom Lee has noted that year-over-year PCE inflation could drop to 3% because of a change in how the data is calculated, which could turn out bullish for both COIN and CRCL. The release follows a US CPI print that came in line with expectations at 3.4% two weeks earlier, and investors remain split over whether the Fed will hike again in 2026. CoinGape prediction markets currently put the odds of a 25-basis-point October hike at 65%.
COIN Defends Support Near $190
Coinbase shares were down 1.7% in pre-market trading on September 28, after closing the prior week at $195. The one-week chart shows COIN could test support at $190, and a close below that level opens the door to the $163-$170 zone.
However, a rising RSI line suggests bullish momentum is building as Coinbase expands its service offerings. A continuation of higher highs on the RSI could point to a bullish divergence and a move toward resistance at the 50-week EMA of $199.
CRCL Slides on Leadership Change
Circle shares face pressure from both the looming inflation print and a leadership shake-up, as the company's CFO steps down. CRCL dropped 4.3% on September 25 and was down another 3% in pre-market trading on September 28.
The decline has pushed CRCL to a ten-day low, and stronger selling pressure at the open could send shares toward support at $80. A falling CMF line points to strengthening selling pressure, and the MACD line, while still positive, is also dropping. CRCL would need to close above resistance at $98 to confirm a trend reversal.
Source: CoinGape
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