Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Marathon stock price was $12.25 with a drop of 9.26 % in the last 24 hours and a market cap of $2.135 Billion.</a> </li> 
 <li> <span>2</span> <a>Sellers are gaining momentum; were aggressive in the past few sessions.</a> </li> 
</ul> 
<p>Marathon is heading downward by making lower-low structures. It is currently below the 50 EMA at the level of $12.48. However, the main reason behind the downfall of Marathon stock is bearishness in Bitcoin. Moreover, if BTC falls below $25K, then MARA may decrease further. However, analysts speculate that MARA may recover if it remains above the $10 support.&nbsp;</p> 
<p>Marathon stock (MARA) was rejected from the 50 EMA, resuming the downtrend that shows further weakness in the market. According to the current situation, the market is trading below the dynamic support trendline which can further lead to lower levels. The market is also in a downtrend based upon a larger time frame as it is making lower lows.</p> 
<p>Marathon stock has been declining from its high levels and making lower-low structures. It is currently in a downtrend after trading below the 50-day and 200-day moving averages. If MARA cannot stop the bearish pressure, it may form a new lower low pattern shortly and prolong the downtrend.</p> 
<p>The current scenario requires traders and investors to be patient and look for a clear break below or above the range before making any moves and avoid the fear of missing out to minimise losses.</p> 
<p><a href="https://www.thecoinrepublic.com/2023/08/18/riot-stock-mara-stock-mining-stocks-plummet-as-bitcoin-falls/" rel="noopener noreferrer nofollow">Marathon stock price</a> fell 21.78% last week. It declined by 27.98% through the month. The returns were around 64.43% within the past six months while over the past year, the returns were a whopping 242.18%.&nbsp;</p> 
<p>Additionally, the MARA share price has grown by approximately 242.18% year to date. These trends collectively highlight the challenges faced by Marathon shares in their recovery efforts in recent times.</p> 
<h2 class="wp-block-heading" id="strong-technical-analysis-of-marathon-stock-price-in-1-d-timeframe-strong"><strong>Technical Analysis of Marathon Stock Price in 1-D Timeframe</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh6.googleusercontent.com/wfOh1XJiTpjlNJ-0n3d0Ig3t6sZ6PbtKE4z8-XtJQoqSt82K2omwS-O9BW2a_S9ign2ef2YGMdpVTIqiH4HH1fevv0W915igDa9BCd5pguhi5GlgqVaKi8M7oj2qWRTMnTcuol1zGPNpUUrXbzQx5A" alt="Marathon Stock Price Prediction: MARA Bearish Outlook for 2023?"> 
  <figcaption class="wp-element-caption">
    Source: Marathon Stock.1D.NASDAQ by TradingView 
  </figcaption> 
 </figure> 
</div> 
<p>On the daily charts, Marathon stock shows sellers’ dominance. It slipped below neutrality, showing a negative outlook on the charts. Moreover, the price dropped below the 38.2% Fib level, heading toward the 23.6% Fib level and near the lower Bollinger band</p> 
<p>The price of Marathon Stock is currently at a crossroads. It could go up to $20.18 and $22.99 if it can maintain the current level. However, if the price cannot maintain this level and falls, it might hit the closest support levels of $14.26 and $11.14.</p> 
<p>At present, Marathon stock (NASDAQ: MARA) is trading below the 50 and 200-day exponential moving averages, which are not supporting the price trend. If bulls want to make a comeback, they will have to rise and sustain above the 20-day EMA. However, the sellers seem to be more aggressive as compared to buyers.</p> 
<p>The price of MARA is currently trading near the support levels. If selling pressure increases, the price could break through these levels and move lower. This would be a bearish signal as it would suggest that the trend is reversing.</p> 
<p>The current value of RSI is 38.75 points. The 14 SMA is above the median line at 38.20 points which indicates that the Marathon stock is bearish.</p> 
<p>The MACD line at -0.0615 and the signal line at -0.0623 are below the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the MARA stock price.</p> 
<h4 class="wp-block-heading"><strong>Summary</strong></h4> 
<p>Marathon stock price is bearish per the chart. The sellers are overpowering on the higher levels. The technical indicators also signal a bearish trend. The MACD, RSI, and EMA are accentuating negative signs and suggest that the downtrend may continue in the MARA stock price. Marathon stock price action suggests that the investors and traders are bearish on the 1-D time frame. The technical analysis suggests that the Marathon stock price is in a bearish grip and the probability of testing the previous highs in the coming months remains low.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<ul> 
 <li><strong>Support Levels:</strong> Nearest support levels are $14.26 and $11.14.</li> 
</ul> 
<ul> 
 <li><strong>Resistance Levels:</strong> Nearest resistance levels are $20.18 and $22.99.</li> 
</ul> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in stock involves risk. Please assess your situation and risk tolerance before making any investment decisions.<br></p>

Marathon Stock Price Prediction: MARA Bearish Outlook for 2023?

Table of Contents

Thecoinrepublic.com

Other articles published on Aug 18, 2023

SEC Moves To Appeal Ripple XRP Case Ruling

Shiba Inu's Shibarium Launch Faces Scam Warning

SEC Poised to Greenlight Futures ETF Approvals

Calm Before the Storm? Bitcoin and Ethereum Volatility Hits Historic Lows

A Glimpse into the Future: Hedera, Bitcoin Spark, and the Evolution of Cryptocurrencies

Crypto News : Hacker Linked to Massive BNB Theft Gets REKT in $60M Liquidation

Join our free newsletter for daily crypto updates!