Crypto Stocks to Watch Ahead of April 28 Fed Meeting; CRCL, MSTR, COIN

Top crypto stocks to watch this week, April 28-29. FOMC Meetings are drawing close attention from investors. CRCL, MicroStrategy, and COIN are being watched by traders as possible volatile ones. Bitcoin is still holding above the 77,000 mark, and it remains resolute despite macro uncertainty. Ether is also trading above $2,300, which indicates a consistent institutional demand.

What’s Next for Crypto Stocks Ahead of April 28-29 FOMC Meetings?

The Federal Open Market Committee will meet in Washington, D.C., on April 28 and 29. Markets are now attributing a 99.5% likelihood that rates will not rise. Rates are expected to be maintained in the 3.50 to 3.75 range by the policy makers. The high oil price associated with geopolitical tensions remains a strain on the inflation expectations.

U.S. officials will visit Pakistan to discuss with Iran, announced President Trump. Without an agreement, he cautioned that there may be massive infrastructure strikes. This week has brought about such geopolitical risks that have brought about uncertainty in the global markets.

The forward guidance will also be monitored in the press conference of the Federal Reserve Chair by investors.

Will CRCL Price Rally Toward $111.20 in Coming Sessions?

CRCL stock price closed at 105.91 on Sunday, declining 1.44% amid market pressure.

After-hours trading drove shares down to $104. and further losses in dealings in the latter part of the session.

Intraday trading revealed that there was continued selling and limited upward movement throughout the afternoon trading.

The current chart structure shows that support is at $102.70 and resistance at $107.50 Analysts perceive the down side risk of $100 and recovery potential of $111.20.

Is Michael Saylor Hinting at a Bigger Bitcoin Buy Ahead?

MicroStrategy indicated another possible Bitcoin acquisition when Michael Saylor posted the Orange tracker chart. He also included the word Think Even Bigger which generated new speculations among investors. 

The corporation already possesses 780,897 BTC worth approximately 59 billion. It has an average price of purchase at 75789 per bitcoin. 

Last week, MicroStrategy purchased 13,927 BTC at an approximate price of $1 billion. That action was after a similar indication of Saylor on social media. Shares of STR rose 11.80 percent to $166.52. 

Market capitalization was 57.752 billion and enterprise value was 75.059 billion. Bitcoin price is trading over 77000, having had a bullish week.

Coinbase Shares Jump 3% as Bulls Target Break Above $210

Coinstock Coinbase Global has been on an upward trend and ended the day higher on April 19.

Shares settled at $206.33, gaining 3.26%, by the closing bell. The stock has been trading in a narrow intraday range, recovering well above the support zone of $205.

Technical signals indicate that the nearest resistance is the price of $207. A long-term momentum above $207 might lead to the opening of the road to the $210 mark. Should the bullish momentum gain, traders can consider a short-term target of around $215.

On the negative side, the support is observed at around $205 in the event of pullbacks. A fall below $205 can reveal the stock to further fall to around $199.9.