Cryptocurrency stocks have come under intense pressure in the past few weeks as most coins plunged. Coinbase stock price has retreated to $218 on Thursday, about 23% from its highest point this year, meaning that it has moved into a bear market. It has dropped to its lowest level since March.
MicroStrategy (MSTR) stock, on the other hand, has also dived hard because of its Bitcoin holdings. It dropped to a low of $1,200, its lowest level since March 6th, about 40% below its highest level this year.
CleanSpark (CLSK) shares have plunged hard as it moved from its highest level this year. It moved from a high of $24.77 to a low of $16.2. Other Bitcoin mining companies like Argo Blockchain, Marathon Digital, Riot Platforms, and Bitfarms have all plunged ahead of halving.
CleanSpark stock price forecast
The CLSK share price rose to a high of $24.77 on March 27th as the Bitcoin rally intensified. It has now crashed to below $18 and is sitting to the important support level at $14.90, its lowest level in March this year.
On the positive side, the CleanSpark share price has remained above the 100-day Exponential Moving Average. At the same time, the Relative Strength Index (RSI) has moved below the neutral point. The MACD indicator has retreated below the neutral point. It has also formed a double-top pattern.
Therefore, the outlook for the stock is bearish as its fundamentals deteriorate after halving, a process that will reduce its block rewards. A break below the 50-day moving average at $13.47 will point to more downside.
If this happens, the next point to watch will be the psychological level at $10, which is about 37% below the current level. Other mining companies will also continue falling.
MicroStrategy share price prediction
The MicroStrategy stock price has dived hard in the past few weeks. It peaked at $1,992 on March 27th and has now crashed to a low of $1,200. The stock has moved below the important support at $1,236, its lowest swing on March 19th.
MSTR share price has dived below the 25-day moving average. The RSI indicator has moved below the neutral point and is nearing the oversold level. MicroStrategy’s MACD and its histogram has moved below the neutral point.
MicroStrategy has dived below the important point at $1,318, its highest point on February 21st. Therefore, the outlook for the stock is bearish as investors sell the halving fact. This means that the stock could drop to about $1,000 before it starts rebounding.
Coinbase stock price forecast
COIN stock price has dived hard in the past few weeks. It has dropped by over 23% from its highest level this year as volumes in the industry have moved down. Bitcoin’s ETF inflows have also eased, which is affecting Coinbase since it is the biggest custodian.
The company has also nosedived ahead of its earnings on May 3rd. It has now dropped below the 50-day moving average and it remains above the 100-day EMA. Coinbase has also formed a bearish flag while the RSI, MACD, and the Stochastic Oscillator have all moved downwards.
Therefore, the outlook for the Coinbase stock price is bearish, with the next point to watch being at $188.54, its highest swing in December.
