MSTR vs. RIOT vs. COIN: Which Crypto Stock Stands Out in Q3 Results? – MicroStrategy (NASDAQ:MSTR), Riot Platforms (NASDAQ:RIOT), Coinbase Glb (NASDAQ:COIN)

As the cryptocurrency sector continues to be a rollercoaster ride for investors, three heavyweights are – MicroStrategy Inc. MSTR, Riot Platforms Inc. UPRISINGAnd Coinbase Global Inc. COIN – are preparing to report their third-quarter results on Wednesday.

Given the varied year-to-date performance and significant price movements, the question on everyone's mind is: Which of these crypto stocks is primed for an upward breakout?

MicroStrategy: Cheers to Bitcoin

MicroStrategy has become a darling for crypto investors, boasting an impressive 275.55% increase year-to-date and a staggering 512.40% over the past year, supported by Bitcoin'S BTC/USD trajectory. However, the company is expected to report a loss of 14 cents per share and revenue of $122.66 million.

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Technical indicators paint a bright picture: the stock is trading well above its 5-day, 20-day and 50-day exponential moving averages, signaling strong bullish momentum. With a current price of $256.34, MSTR is outperforming all major simple moving averages (SMAs), making it a strong case for an uptrend.

With a moving average convergence/divergence (MACD) of 23.01 and a Relative Strength Index (RSI) indicating overbought conditions at 77.16, the bullish sentiment seems almost undeniable.

Analysts agree, citing a consensus price target of $432.45 – a potential goldmine if MicroStrategy continues its upward trend.

Riot Platforms: A phoenix rising from the ashes?

At the other end of the spectrum, Riot Platforms has struggled with a year-to-date decline of 28.96%, despite posting a modest increase of 13.91% over the past year. With an expected loss of 16 cents per share and revenue of $95.35 million, RIOT is priced at $10.93.

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However, the technical data suggests that a trend reversal is possible. Like MSTR, shares of RIOT are also above their 5-day, 20-day and 50-day EMAs, indicating upward pressure. With all relevant SMAs confirming a bullish signal, RIOT could be on the verge of a comeback.

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

Also Read: Coinbase CEO Brian Armstrong says the next SEC chair should apologize for the “harm caused to the country by ‘frivolous’ lawsuits.”

Coinbase: The Heavy Hitter

Finally, we have Coinbase, which has seen a significant year-to-date gain of 40.74% and is up a staggering 200% over the past year. With expected earnings of 43 cents per share and revenue of $1.25 billion, COIN's current price is $219.75.

Chart created with Benzinga Pro

The stock also shows robust technical indicators and is trading primarily at 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 moves towards profit.

Analysts are bullish, citing a consensus price target of $231.27, suggesting there is still room for further growth.

The verdict

As these three crypto stocks prepare to report their third-quarter results, MicroStrategy appears to be the frontrunner, supported by bullish, solid indicators and a lofty price target from analysts. Riot Platforms is anticipating a potential turnaround, while Coinbase stands strong with solid fundamentals and a promising outlook.

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