Trump Advances Crypto Policy, Robinhood Stock Rises Thursday

Robinhood Markets Inc. shares rose Thursday as cryptocurrency-related stocks gained momentum following policy updates from a White House summit held Wednesday. Nasdaq futures fell 0.10%, and S&P 500 futures fell 0.04%.

President Trump reiterated his commitment to securing U.S. leadership in cryptocurrency and emerging technologies. The meeting included CFTC Chairman Michael Selig, SEC Chairman Paul Atkins, and executives from companies such as Coinbase Global Inc, Robinhood, Ripple, and Kalshi.

Trump Pushes Legislative Progress

Trump urged Congress to pass the CLARITY Act to establish regulatory standards for digital assets.

"We are ensuring that America remains the undisputed leader not only in Bitcoin and cryptocurrency but also in technologies like prediction markets and artificial intelligence," Trump said.

He described the CLARITY Act as "a very strong piece of structured legislation that will put us ahead of China."

Market interest in Robinhood was also supported by developments related to its Robinhood Chain blockchain platform.

Key Levels to Watch for HOOD Stock

From a trend perspective, HOOD trades about 8% above its 20-day simple moving average and about 4.7% above its 200-day simple moving average, keeping the medium-term trend constructive even after recent volatility.

It also sits only about 1.4% above its 50-day simple moving average, so the stock is close enough to that trendline that a weak trading day could quickly shift into a "retest" narrative.

Momentum is best measured by the Relative Strength Index, which stands at 50.09—essentially neutral—indicating the stock is not overvalued and still has room for an uptrend if buyers follow through.

The moving average structure is mixed: the 20-day simple moving average remains below the 50-day simple moving average, but the 50-day simple moving average is above the 200-day simple moving average, a result of the August golden cross, which is typically a longer-term bullish backdrop. Traders often view this combination as a "bullish trend, short-term mess," meaning breakouts can work but pullbacks may be sharp.

Key resistance: $120.50—nearby ceiling and round-number zone where rallies may stall

Key support: $93—nearby floor, closely aligned with the 20-day simple moving average area, a practical dip-buying level to watch

HOOD stock price action: Robinhood Markets shares rose 5.77% in premarket trading Thursday to $101.30.