3 Crypto Stocks to Watch

The crypto market shows mixed signals amidst the Iran-Israel conflict, affecting US crypto stocks like Circle (CRCL), Galaxy Digital (GLXY), and Riot Platforms (RIOT). Increased market volatility significantly impacts these companies.

Circle Internet Group (CRCL)

Circle's USDC stablecoin launched on the XRP Ledger, boosting cross-chain integration and stablecoin adoption. This direct integration, bypassing bridges, leverages XRPL's speed and low costs. Institutions and developers can access liquidity through Circle APIs and Circle Mint. CRCL stock has surged over 250% since its IPO, approaching resistance at $118.95. Breaking this level could push it to $123.25. However, support at $106.30 is crucial; failure could lead to a retracement to $101.51.

Source: TradingView

Galaxy Digital (GLXY)

Galaxy Digital (GLXY) faces challenges since its Nasdaq debut, down over 21%. Despite this, CEO Mike Novogratz remains bullish on Bitcoin, predicting it could reach $1,000,000. GLXY is nearing key support. Further decline could test $18.27, potentially reaching $17.99. A reversal could retest resistance at $18.77, potentially leading to $19.56 and $20.11.

Source: TradingView

Riot Platforms (RIOT)

Riot Platforms (RIOT) continues strategic initiatives despite market pressure. Jonathan Gibbs, the new Director of Data Center, will lead expansion into AI and cloud data center markets, leveraging 1.7 gigawatts of power. RIOT reduced its Bitfarms stake to 14.3%, potentially reallocating resources. However, RIOT's stock dropped over 9% in 24 hours due to Bitcoin's decline and geopolitical tensions. A recovery could push it to $10.86, then higher. Weakness could lead to support at $9.52, then $7.93.

Source: TradingView

Disclaimer: This analysis is for informational purposes only and not financial advice. Market conditions change rapidly. Conduct your own research before making investment decisions.