MSTR, Metaplanet, COIN: Crypto Treasury Stocks Hit Critical Support Levels
MicroStrategy, Metaplanet, and Coinbase are all testing crucial long-term support levels simultaneously. MSTR is teetering on the edge of a breakdown below $100, while COIN defends $150 and Metaplanet holds ¥200. These levels will dictate the next leg for these Bitcoin-heavy balance sheets.
MicroStrategy (MSTR), Metaplanet, and Coinbase (COIN) are all staring down the barrel of critical long-term support. MSTR is back at the $100 zone that ignited its 2024 rally, but the chart looks weak, with an 82% drawdown from its peak. A weekly close below $100 would be a major bearish signal. Metaplanet is holding ¥200, a level that previously capped rallies, but its chart still screams bubble after an 88% collapse from its all-time high. Coinbase, the strongest of the bunch, is defending $150 for the fourth time, though it's still 64% off its peak. The fate of these Bitcoin-laden balance sheets hangs in the balance, with $100 for MSTR, ¥200 for Metaplanet, and $150 for COIN acting as the make-or-break levels this quarter. If these supports crack, expect further downside pressure on the crypto treasury trade.