MSTR, COIN and MARA Forecast – Crypto Stocks a Mix Sluggish in Premarket

MSTR Technical Analysis

MicroStrategy has shown itself to be a little bit soft in the early hours of Thursday in pre-market trading, but it is worth noting that we stopped on Wednesday, right at the 50-day EMA. As we are stuck between the 50-day EMA and the 200-day EMA indicators, it does suggest that perhaps we have a scenario where traders are going to be looking at this as a potential volatile area. If we can break above the $350 level, then that could give the “all clear” for MicroStrategy. But remember, this is all about Bitcoin, it has nothing to do with the actual company.

COIN Technical Analysis

Coinbase looks like it’s going to open down during the trading session on Thursday, as we are seeing a little bit of malaise in crypto after the recent bounce. We’ll have to wait and see how that plays out, but I still see this has an area of potential consolidation just below the 200-day EMA, so I think the market is probably one that is more likely than not going to continue going sideways for the short term. If we could break above the 200-day EMA, that would obviously be very bullish, but right now we’re still waiting to see if we can get any follow-through.

MARA Technical Analysis

Mara is a little bit lower on Thursday as well, despite the fact that Mara just had a strong earnings report. But I think the general lackluster performance of crypto will continue to weigh on the idea of crypto related companies, including Mara Holdings, and keep them somewhat compressed and maybe even a little sluggish.

That being said, when you look at the longer term chart, you can make an argument for the stock in a very massive supportive area that I think longer term traders will be paying close attention to. With this, I think if you’re an investor, it might be interesting, but a short term trader is probably going to see a lot of choppy behavior.