Top crypto stocks forecasts as Bitcoin price crashes: HOOD, MSTR, COIN

Top crypto stocks will be under pressure on Monday as Bitcoin and most altcoins continue their downtrend. The Bitcoin price has crashed to $95,000, down by about 25% from its highest point this year. 

Ethereum price has retreated to $3,200, down by about 35% from the year-to-date high, while XRP has slumped by nearly 40% from the same period. 

Worse, there is a likelihood that the Bitcoin price crash will continue as it has formed a death cross pattern on the daily chart. This pattern happens when the 50-day and 200-day Exponential Moving Averages (EMA) cross each other. A death cross is one of the most bearish chart patterns. 

MSTR stock bear market to continue

Strategy, the biggest holder of Bitcoin, has been in a strong downtrend in the past few months. MSTR has already plunged by over 63% from its highest level in 2024. It has slipped from a high of $540 to $200 today. 

Strategy stock has plunged because of the recent Bitcoin performance and the lack of demand for digital asset treasury (DAT) stocks. Indeed, a closer look at companies like Metaplanet, Semler Scientific, and MicroCloud Hologram have all been in a freefall this year.

Technical analysis suggests that the Strategy stock price has been in a strong downtrend. The daily chart shows that the MSTR stock price has already moved below the key support at $231, its lowest level in February and April this year.

Strategy also formed a death cross pattern in October. The Average Directional Index (ADX) has soared to 40, a sign that the trend is strengthening. 

Therefore, the most likely scenario is where the Strategy stock continue falling as sellers target the next key support at $113, its lowest level in September last year.

READ MORE: Ethereum price prediction as ETH ETFs shed $1.2 billion

Coinbase stock price forecast

The daily timeframe chart shows that the Coinbase stock price has been in a strong downtrend in the past few months. It has plummeted from the year-to-date high of $445 in July to the current 284. 

The stock has moved below the 50-day and 200-day Exponential Moving Averages. It recently moved below the key support at $292, its lowest level in August and September this year.

COIN stock has also moved below the 50% Fibonacci Retracement level at $295. It also moved below the Weak, Stop & Reversal point of the Murrey Math Lines at $280. 

Therefore, the most likely Coinbase stock price forecast is bearish, with the next target being at $250. This target is along the ultimate support level of the Murrey Math Lines.

Robinhood stock price analysis 

Robinhood is also considered a crypto stock because of its recent investments in the industry. For example, it recently acquired Bitstamp, a mid-size crypto company. The most recent results showed that crypto was one of its fastest-growing segments. 

The daily timeframe chart shows that the HOOD stock has formed a double-top pattern at $153 and a neckline at $120, its lowest level in October. A double-top is one of the most bearish patterns in technical analysis.

Robinhood stock has moved below the 50-day moving average and the Major S/R pivot point of the Murrey Math Lines. Therefore, the most likely HOOD stock price forecast is bearish, with the next point to watch being at $100, the ultimate support. On the flip side, a move above the Major S/R pivot point at $125 will invalidate the bearish outlook.

Other top crypto stocks will be on pressure on Monday. The most notable ones will be Bitcoin treasury companies like Semler and MicroCloud. Others are Bitcoin mining stocks are MARA and Riot Platforms. 

READ MORE: Solana price forms death cross as SOL ETF inflows near $400m

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