COIN, MSTR and CRCL Forecast – Crypto Stocks Look to Jump on Monday

COIN Technical Analysis

Coinbase looks like it’s going to jump about $10 in pre-market trading as we open more likely than not with a lot of strength here, perhaps going to look towards the $400 level above, which is where we plummeted from a couple of weeks ago. All things being equal, this is a market that still sees a lot of support at the $300 level, and the 200-day EMA sitting just below there, of course, helps the situation as well. Coinbase has been somewhat sideways, except for a move higher for a couple of weeks, and now we are starting to look forward to the October 30th earnings and revenue call. As things stand right now, though, it looks like we are going to rally on Monday.

MSTR Technical Analysis

MicroStrategy looks like it is going to rally a bit in the early hours of Monday. That being said, this is a market that I think eventually finds its way lower, maybe somewhere closer to the $240 level. A short-term rally makes a certain amount of sense. We have plunged a bit, but $320 could bring in a bit of resistance in this market, as it was the previous support level and the 61.8 % Fibonacci retracement level. In fact, the 50-day EMA is getting ready to cross below the 200-day EMA, kicking off the so-called death cross.

CRCL Technical Analysis

Circle looks like it’s going to jump a little bit in pre-market trading. I think at this point, we’re more or less going to be looking at some type of consolidation area. We are trying to figure out where that is. I’m going to take a guess at the moment and say $110 and $150 would be the basic area. The market, which is just bouncing a bit from here, is just in the process of trying to form some type of basing pattern after its initial IPO jump. And now the question is, “Will we get follow-through momentum?” It certainly looks like the buyers are willing to get involved early on Monday. Whether or not we break above the $160 level, which is what would qualify as a significant breakout to me, remains a completely different question. It certainly won’t happen on Monday.

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