Tesla (TSLA) Chart Flashes Warning: Wall Street’s Crypto Contagion Fear?

Technical indicators turn bearish for TSLA as traditional markets catch crypto’s volatility flu. Another reminder that legacy finance still hasn’t figured out digital assets’ disruptive power.

While traders panic over a few red candles, Bitcoin hodlers shrug—they’ve seen this movie before. The real worry? Institutional FOMO when TSLA inevitably rebounds harder than a memecoin.

Wall Street Concerned over Tesla Stock, Company’s Performance Overseas

Tesla sales in Europe have hit a 3-year low, with worries abounding that it could keep the stock from the $350 level. The company sold just 700 units in Europe May, even with recent changes to its Model Y being present. However, the development is one that hasn’t concerned Elon Musk. Indeed, he recently rebuked sentiments that there is a “demand problem.” Moreover, he noted that “everyone is struggling in Europe; there’s no exception.”

Despite Musk’s affirmation that everything is okay, TSLA is still down 2% in the past week following the sales report. Fortunately, its 22% climb in May has set it in a good position to maintain the $300 price level in June.

On the first trading day of the month, Tesla dropped 2.58% at midday market. Additionally, that continued a 5.48% drop that has persisted over the last five days. Still, shares are up more than 17% over the last month and are trading at $336. Its median target sits at just $307, leaving room for a potential 8% downside risk.