MSTR, COIN and CRCL Forecast – Crypto Stocks Rally in Premarket

MSTR Technical Analysis

MicroStrategy looks like it is going to jump as pre-market trading has been very strong, and it also appears that crypto itself is starting to show signs of life. So, with that being said, I think you have a shot at MicroStrategy, of course, being a major beneficiary of Bitcoin jumping, but let’s take a look at the 50-day EMA, which is still above where we are right now, and that could be a little bit of a barrier. If we can clear the 50 day EMA right around the $359 level, then MicroStrategy has a real shot at going higher. It certainly looks like it’s going to at least try to get there.

COIN Technical Analysis

Coinbase looks like it is going to open up about $3 higher or 1%. Ultimately, this is a market that I think needs to find a way above the $360 level, as there has been a major gap there. And if that’s going to be the case, I think you get a lot of effort put into the market, and then perhaps finally a breakout.

Short term pullbacks seemed to be supported at this point in time by the $300 region. So, let’s keep an eye on that as a potential floor in the market.

CRCL Technical Analysis

And finally, Circle looks like it’s going to try to rally as well. We are just now approaching what would be the 50 day EMA in a fairly young market. You could also make an argument that it is oversold, we’ll just have to wait and see. But traders who use various forms of analysis are probably seen in oversold condition. We are right around the 78.6 Fibonacci retracement level. Not a level I follow, but a level that I think a lot of people might be interested in. The $100 level, of course, offered support as well. So now the question is, can we break above the 50-day EMA? If we can, then it opens up the possibility of a move to the $180 level.

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