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- Marathon digital holdings has recently reported that they will recover 50% of their deposits from Compass
- Technical indicators of MARA suggests a downside trend in price. It is currently trading near 3.144.
Marathon Digital Holdings. is a technology company which focuses on the development and commercialization of blockchain-based solutions. The company was founded in 2015 and is headquartered in Las Vegas, Nevada. They have made a name for themselves in the cryptocurrency industry through its large-scale mining operations. The company operates one of the largest bitcoin mining facilities in North America, with a strong mining network
In addition to its mining operations, Marathon Digital Holdings also provides a range of blockchain-based solutions for various industries, including supply chain management, financial services, and healthcare. Meanwhile Marathon Expects to recover less than half of its deposit from the bankrupt compute North. Marathon which does not own its mining facilities has previously said that they have paid about $50 million operating deposits in Compute North.
Marathon has a market cap of 367 Million and has a negative EPS. It is down by more than 60% from its 52 week high.
MARA Continues In Downside Parallel Channel
MARA stock price has been in a strong downfall for a long time. The weekly chart is favoring the downside trend. On coming to the daily chart it is currently trading near $3.15 with a drop of 2.93%. There is a downside parallel channel formed in the stock price. This can push the price to a further low. The upside trend of MARA can see a roadblock near $5. Meanwhile the downside trend can observe a halt near $2. The asset price is trading below the 50 and 100 DMA. There can be a negative crossover which can push the price below.
Conclusion
Marathon Digital has been adversely affected by the downside trend of Bitcoin. MARA stock price is currently in a downside trend and can hit $2 in future.
Technical Levels
Major Support:$2
Major Resistance:$5
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
