Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>Marathon Digital’s MARA stock price has been slipping through an interesting pattern.&nbsp;</a> </li> 
 <li> <span>2</span> <a>MARA shares dropped below 20, 50, 100, and 200-days daily moving averages.</a> </li> 
 <li> <span>3</span> <a>Marathon Digital Holdings Inc. (NASDAQ: MARA) gained more than 170% year to date.&nbsp;</a> </li> 
</ul> 
<p>Marathon digital, MARA stock has been slipping through an interesting declining pattern over the daily time frame chart. Marathon stock price is trying to sustain towards the upper trendline of the descending parallel channel. However, MARA stock started falling from the $19.90 mark and has been falling since July 2023. Now, Mara shares need to attract buyers in order to surge and register its breakout from the declining parallel channel.</p> 
<p>MARA stock price was at $9.80 and has lost 2% of its market capitalization during Friday’s trading session. Trading volume can be seen below average and needs to grow during Monday’s trading session in favor of buyers so that MARA can register its breakout from the declining pattern.</p> 
<h2 class="wp-block-heading" id="strong-will-mara-stock-bounce-back-for-20-mark-strong"><strong>Will MARA Stock Bounce Back For $20 Mark?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter"> 
  <img decoding="async" src="https://lh4.googleusercontent.com/SXtJaTGHxqpcVWajx2BeKZMrJhsHjODKta-zOIDm9yo8W_zkxfii8n5jfWNwBDUTLWZW4O9xWIFHJvfTpiYOImffrNH2bBli93uUrRSGqCopZegMse4L-5CVac4fwCNj7rboU3oHiB1X9Cqr841IzNY" alt="Marathon Digital: MARA Stock Slipping in an Interesting Pattern"> 
  <figcaption class="wp-element-caption">
    Source: NASDAQ: MARA by <a href="https://www.tradingview.com/x/eUwVsDgh/" rel="noopener noreferrer nofollow">TradingView</a> 
  </figcaption> 
 </figure> 
</div> 
<p>Marathon Digital Holdings Inc. (NASDAQ: MARA) stock attempted to break out of a downward parallel channel but hasn’t succeeded in doing so. Additionally, the trading volume has been lower than usual, and it needs to increase to support the buyers. MARA shares have fallen below their 20-day, 50-day, 100-day, and 200-day daily moving averages.</p> 
<p><a href="https://www.thecoinrepublic.com/2023/09/02/marathon-digital-bulls-backing-mara-stock-price-surged-over-99/" rel="noopener noreferrer nofollow">Marathon’s stock </a>price declined significantly, dropping by 17.30% in the past week and 28.31% in the last month. However, it showed signs of improvement with a 3.38% gain over the past three months and a more substantial increase of 16.67% in the last six months. Impressively, Marathon’s stock price has made a remarkable recovery, surging by approximately 173.74% year to date. This indicates that the stock has performed exceptionally well over a larger time frame.</p> 
<p>Technical indicators highlight the downtrend of MARA stock. Relative strength index and moving average convergence divergence both confirm the downward momentum of Marathon stock.&nbsp;</p> 
<p>RSI was at 34 and is hovering above the oversold territory. The MACD line is below the signal line after a negative crossover. Investors in Marathon Digital Holdings Inc. (NASDAQ: MARA) stock need to wait for any directional change over the daily time frame chart.&nbsp;</p> 
<h4 class="wp-block-heading"><strong>Summary</strong>&nbsp;</h4> 
<p>Marathon Digital Holdings Inc. (NASDAQ: MARA) shows a declining pattern on its daily chart. The stock has dipped below its 20-day, 50-day, 100-day, and 200-day moving averages. On a positive note, MARA’s stock has shown an impressive recovery, with a year-to-date increase of approximately 173.74%. However, technical indicators highlight a downtrend for MARA stock. Investors interested in Marathon Digital Holdings Inc. (NASDAQ: MARA) should be patient and watch for any potential changes in direction on the daily chart.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p><strong>Support Levels:</strong> $9.25 and $9.00</p> 
<p><strong>Resistance Levels:</strong> $10.75 and $11.95</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.&nbsp;</p>

Marathon Digital: MARA Stock Slipping in an Interesting Pattern

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Thecoinrepublic.com

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