MSTR Vs. RIOT Vs. COIN: Which Crypto Stock Stands Out Ahead Of Q3 Earnings?

As the cryptocurrency sector remains a rollercoaster ride for investors, three heavyweights – MicroStrategy Inc. MSTR, Riot Platforms Inc. RIOT, and Coinbase Global Inc. COIN – are gearing up to release their third-quarter earnings on Wednesday.

With varied year-to-date performances and significant price movements, the question on everyone's mind is: which of these crypto stocks is primed for a bullish breakout?

MicroStrategy: Riding High On Bitcoin

MicroStrategy has become a darling for crypto investors, boasting an impressive 275.55% year-to-date rise and a staggering 512.40% over the past year, bolstered by Bitcoin‘s BTC/USD trajectory. However, the company is expected to report a loss of 14 cents per share, with revenues projected at $122.66 million.

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The technical indicators paint a glowing picture: the stock trades well above its five, 20 and 50-day exponential moving averages, signaling strong bullish momentum. Currently priced at $256.34, MSTR is above all key simple moving averages (SMAs), making it a strong bullish case.

With a Moving Average Convergence/Divergence (MACD) of 23.01 and a Relative Strength Index (RSI) suggesting overbought conditions at 77.16, the bullish sentiment seems almost undeniable.

Analysts agree, giving it a consensus price target of $432.45—a potential goldmine if MicroStrategy continues its upward trajectory.

Riot Platforms: A Phoenix Rising From The Ashes?

On the other end of the spectrum, Riot Platforms has struggled with a 28.96% decline year-to-date, despite showing a modest 13.91% rise over the past year. Anticipating a loss of 16 cents per share with revenues of $95.35 million, RIOT's price is $10.93.

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However, the technicals suggest a turnaround is possible. Like MSTR, RIOT’s shares are above their five, 20,and 50-day EMAs, indicating bullish pressure. With all relevant SMAs affirming a bullish signal, RIOT could be poised for a comeback.

Its MACD is positive, 0.73, while the RSI is at 73.07, which indicates the stock is in overbought territory. However, analysts still see potential, with a consensus price target of $18.98.

Read Also: Coinbase CEO Brian Armstrong Says Next SEC Chair Should Apologize For The ‘Damage Done To The Country’ By ‘Frivolous’ Lawsuits

Coinbase: The Heavy Hitter

Finally, we have Coinbase, which has seen a respectable 40.74% gain year-to-date and is up an eye-popping 200% over the past year. Expecting earnings of 43 cents per share and revenues of $1.25 billion, COIN's current price is $219.75.

Chart created using Benzinga Pro

The stock also demonstrates robust technical indicators, trading above all its short- to long-term SMAs, further supporting a bullish outlook. With a MACD of 10.41 and an RSI of 63.61, COIN appears to be in a solid position as it approaches earnings.

Analysts are optimistic, giving it a consensus price target of $231.27, suggesting there's room for more growth ahead.

The Verdict

As these three crypto stocks prepare to unveil their third-quarter earnings, MicroStrategy seems to be the frontrunner, bolstered by bullish solid indicators and a high analyst price target. Riot Platforms is eyeing a potential turnaround, while Coinbase stands strong with solid fundamentals and a promising outlook.

Read Next:

• MicroStrategy, Coinbase Shares Are Rising Tuesday: What’s Going On?

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