Crypto Stocks Soar: Is It Time to Buy Robinhood (HOOD), Coinbase (COIN), and MicroStrategy (MSTR)?

Probably following the inexorable upward trajectory of the US stock market, crypto-related stocks are in vogue. Is it too late to get aboard some of these fast-moving trains, or is this just the start of a spectacular multi-month rally?

$HOOD has already left the station

Source: TradingView

Looking at the weekly chart for $HOOD, it can probably be said that this particular train has already left the station, and quite some time ago. The current weekly candle is up more than 17%. For traders or investors looking to take a position here, a retrace back to the convergence of the ascending trendline and the 1.618 Fibonacci would perhaps be a decent bet. 

$100 is also a level with some reasonable support, although with the crypto market potentially about to enter a more explosive phase, investors looking to get in at this level might just stand on an empty platform waiting for a train that never comes.

The 2.618 Fibonacci level at $209 is a likely next price target.

A $COIN return to support before new all-time high?

Source: TradingView

The $COIN weekly chart is another extremely bullish one. Also up 17% on the week so far, the price needs to come back down, probably to the support band between $342 and $350 before it can become a buy. 

With the price on the way to making a new all-time high, it can be seen at the bottom of the chart that the Stochastic RSI indicators are only just in the process of rising above the 20.00 level. Once again, this is extremely bullish.

Fibonacci extension levels suggest that targets for this bull market are up at $675, and $1,073. 

$MSTR offers great entries after year-long accumulation period

Source: TradingView

Of the 3 charts in this article, the $MSTR one is probably offering the best entry. It can be seen that once the price hit the top back in November 2024, a very healthy year-long sideways accumulation period followed. 

Currently, the $MSTR price is poking its head out of the top of a wedge pattern. If the price comes back to confirm the breakout, this would be absolutely ideal for an entry. It also may be that the price continues up and flips the $319 resistance level into support. This could also be a good entry point.

With the Stochastic RSI indicators only just leaving base level, there may be a long period of upside price momentum to come. This is yet another extremely bullish chart.

Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.