MSTR, COIN and HOOD Forecast – Crypto Stocks Looking to Turn Things Around

MSTR Technical Analysis

The market for Strategy has been brutal for some time now and it quite frankly should be considering just how poorly Bitcoin has been behaving. After all, this is basically playing Bitcoin via the stock market as the company itself, I don’t know if anybody really even pays attention to it anymore.

When you look at the longer-term behavior, we are right around that support level where we launched from in 2024. So, we’ll see if it can hold. This solely is in the hands of Bitcoin. If Bitcoin can recover somehow from the longer-term standpoint, then yes, Strategy will be a great move to the upside. But really at this point, I think you have to assume that rallies end up being selling opportunities.

COIN Technical Analysis

Coinbase is doing much the same, and that, of course, makes sense as Coinbase is a crypto exchange. We are at the bottom of a massive broadening megaphone pattern. So, we’ll see if the buyers come back in to support here near the $160 level. In pre-market trading, it does look like it’s going to slip a little bit, and again, I think this is the same situation where you have to look at this through the prism of a market that just has no real reason to go higher. Quite frankly, it’s not until we break above $200 that you even begin to have the conversation that Coinbase is looking healthy.

HOOD Technical Analysis

Now in Robinhood, it’s a little bit different story in so much it looks like pre-market we are going to rally, but we also have earnings coming out on Tuesday. So, I would postulate this might be a little short cover before that. And with that being the case, you probably get a little bit of a bounce. Obviously, I’m not a fan of buying stock on a gamble heading into earnings.

But the earnings are projected to be $0.63 a share with revenue of $1.35 billion. If it beats that, that might drive Robinhood towards the 200-day EMA. Quite frankly, I think you have time on this one, but out of the three, it’s the most likely to recover, mainly because it’s got business outside of crypto.

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