MSTR, MARA and RIOT Forecast – Crypto Stocks Look Soft in Premarket Trading

The three crypto related stocks in this analysis all share a bit of softness ahead of the bell on Thursday, as crypto has given back a bit of the gains after the massive “risk on rally” due to Trump announcing a pause on tariffs for 90 days.

MSTR Technical Analysis

MicroStrategy looks as if it is going to pull back a bit at the open on Thursday, which does make a certain amount of sense considering that the reaction to the tariff being paused for 90 days had the market skyrocketing during the trading session here on Wednesday.

So, giving back some of that insane amount of gains makes a certain amount of sense. The question now is whether or not the trend will change, or will we sit here in this area and try to form some type of base. Ff we can take out the 50 day EMA above, then it’s likely that MicroStrategy could go looking to the $350 level.

MARA Technical Analysis

Mara looks as if it is going to open up lower as well, but really at this point in time, this is a stock that has been under a lot of pressure for quite a while. So, the little bit of pop that it got, really I don’t think it’s justified, at least not at this point in time. It is worth noting there is an earnings call coming up on May 7th. So that might be your next true catalyst. It does look like it’s at least trying to form some type of basing pattern, but whether or not it can actually turn things around and rally from here with any significant distance remains to be seen.

RIOT Technical Analysis

Riot looks as if it is going to open up a little bit lower as well, and it is in the process of potentially forming a bit of a double bottom. All things being equal though, if the market were to overtake the $8 level, then we could see the market go looking toward the $10 level. But right now, things are so noisy, I think you probably have plenty of time before you need to get involved.

Short-term pullbacks could be bought into possibly with a significant amount of support being found near the $6.25 level. And if we were to break down below there, then we could go to the next swing low, which is closer to the $3.43 area.

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