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- MARA stock price has been rising through an interesting pattern but couldn’t surge above the neckline of the pattern over the daily time frame chart.
- MARA shares has been trying to register its breakout but failed multiple times.
- Marathon Digital Holdings Inc. (NASDAQ: MARA) stocks has gained around 7.08% by the opening of Wednesday’s trading season might surge more.
MARA stock price has surged around 7.08% at the time of writing and may continue this upward momentum to reach the $10 threshold. Meanwhile, If buyers’ accumulation rate exceeds during Wednesday’s trading session MARA share price might recover from the neckline of the pattern.
MARA stock price has been trading inside an ascending triangle pattern over the daily time frame chart. However, bulls tried to register the breakout of MARA share price from the neckline of ascending triangle pattern but failed multiple times as a result MARA shares always slipped and remained inside the pattern.
However, this time MARA stock price might initiate its recovery to soar till the upper threshold. MARA stock price was at $7.61 and has gained 7.08% of its market capitalization during the day’s trading session. Trading volume is still below average and needs to grow during the day’s trading session.
MARA Stock Price: Technical Indicators Hint Something!
MARA stock price might recover out from the neckline of the ascending triangle pattern and surge towards the $10 recovery level. Meanwhile, MARA share price has opened the Wednesday’s trading session with a gap up hinting the positive sentiments for trades during the day’s trading session.
Moreover, the price of MARA stocks is currently trying to remain above 20 and -EMA at the 100-days Daily Moving Average to reach the 200-days DMA. MARA stock price has gained 11.84% in the period of one month. MARA share price has recovered excellently around 145.13% in the last three-months.
MARA stock price has grown around 117.74% year to date confirming the facts regarding MARA’s maximum recovery during 2023. MARA share price might reach the $10 recovery as soon as it breaks out from the ascending triangle pattern and also if MARA sustains then investors can expect a significant growth of MARA share price towards the $20 recovery level.
Technical indicators suggest the upwards velocity of MARA share price. Relative strength index showcases the uptrend of MARA share price. RSI was at 53 and reverted back from neutrality with a sharp edge.
MACD exhibits the upward momentum of MARA share price. The MACD line is above the signal line and is trying to remain above it for MARA’s recovery.
Investors in MARA shares need to wait until the MARA share price breaks out from the primary resistance level at the neckline of the ascending triangle pattern, the price level of $9.08.
Summary
MARA stock price has surged around 7.08% at the time of writing and may continue this upward momentum to reach the $10 threshold. MARA share price has gained 11.84% in the period of one month. MARA share price has recovered excellently around 145.13% in the last three-months. Technical indicators suggest the upwards velocity of MARA share price.
Technical levels
Support levels: $7.40 and $7.00
Resistance levels: $9.08 and $10.00
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock 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.
