As Coinbase Global Inc. COIN and MARA Holdings Inc. MARA prepare to report their earnings beats—or blunders—after the bell Thursday, investors are scanning the charts like hawks.
But only one of these Bitcoin BTC/USD and crypto-tied tickers is flashing bullish vibes. Let’s break it down.
COIN: Riding The Moving Average Tightrope
Coinbase, the blue-chip of crypto brokers, has climbed 29.8% in the past month – but don’t let that pop fool you. Despite analysts from Citi, JPMorgan and Rosenblatt touting a $268.67 average price target (a healthy 30% upside), the technicals are caught in a tug-of-war.
Read Also: Coinbase Q1 Earnings Preview: Trump Inauguration, Bitcoin Surge And More Items To Watch
Chart created using Benzinga Pro
Trading at $196.56, COIN stock is below its eight-day simple moving average (SMA) of $201.67 (bearish) but above both its 20-day ($190.41) and 50-day ($190.29) SMAs – those scream bullish. Unfortunately, the long-term 200-day SMA is still way up at $225.82, suggesting COIN stock has work to do.
The MACD (moving average convergence/divergence) indicator, at 3.43, leans bullish, and the stock’s RSI (relative strength index) of 52.22 doesn’t indicate overheating.
So what gives? The chart is a bit indecisive. Call it crypto’s version of a mood swing.
MARA: A Quiet Rally Beneath Bearish Clouds
Meanwhile, MARA stock has had a rougher year, down 33.7% in the past 12 months. But in the past month, it’s surged 26.7%, and the technicals hint at something brewing.
Chart created using Benzinga Pro
At $13.33 per share, MARA stock is below its eight-day SMA (bearish) but just above its 20-day ($13.28) and 50-day ($13.11) SMAs—both bullish. Like COIN, MARA lags its 200-day SMA ($17.18), so the long-term picture still has scars.
Here’s where things get interesting: The MACD is positive 0.16, and the RSI at 49.94 shows it’s sitting in the sweet spot of neutrality. Not too hot, not too cold – just ready for a catalyst.
Analysts are slightly more giddy here, with Compass Point, Piper Sandler and HC Wainwright pegging the stock for a $20.17 price target. That’s a juicy 43.6% upside from today’s levels.
The Verdict: MARA Has The Chart Edge
COIN might have the bigger brand and better fundamentals, but on the charts, MARA looks like the underdog with an upside. It’s showing more bullish signals with a more substantial implied return from analyst targets. Plus, it’s got that silent grind upward that sometimes precedes a breakout.
With earnings looming, both stocks could rewrite their technical stories in a flash. But for now? Chalk one up for the miner.
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