Will MARA Stock drop below $10 in Sep?

Marathon Digital (MARA stock) fell 40% in the current month. It displayed an inverted V-shape bearish pattern and eroded the previous gains. 

MARA stock price dropped below the 50-day and 200-day EMA. It showcases that the trend has reversed and sellers are dominating on the higher levels. 

The bullish momentum of Marathon Digital stock price halted near $20.00 and prices faced sharp rejection. Slow and steady prices declined by forming lower lows and returned back to the breakout level. 

MARA stock price performed well in July and created a positive hope for the long term. But sadly in August, the cryptocurrency market turned bearish due to which the profit booking began in the MARA shares. 

Marathon Digital Holdings is a technology company that is engaged in mining cryptocurrencies. So, if the crypto prices fell then it may negatively affect the stocks of mining companies. 

Also, for the companies that hold Bitcoin and other cryptocurrencies in their portfolio,  MARA shares price closed the previous session at $10.55 on a flat bias. The market capitalization stands at $1.84 Billion.

Will Marathon Digital (MARA Stock) hold the $10.00?

Marathon Digital (NASDAQ: MARA) stock is in a correction phase and no signs of recovery are visible. In the mid of August, MARA stock price broke down the crucial support of $14.00. It triggers negative sentiment and invites further decline. 

Marathon Digital Holdings, Inc. released the previous quarterly earnings on August 8, 2023. The company failed to meet the EPS estimate by 81.72% and the revenue estimate by 2.02%. 

Due to this, MARA share prices reacted negatively and continued the downfall. The technical analysis suggests MARA stock price is in the bears’ grip and more downside is possible.

MARA Stock Price formed a Bearish Timeframe 

MARA stock price fell for 4 consecutive weeks and formed bearish patterns on multiple time frames. 

The broader stock market indices and the cryptocurrency market both are mildly bearish. So, if the stock market and crypto market recovers in September month then a bounce back in MARA stock might be visible. 

The MACD curve slopes down and displays a negative crossover. It indicates prices are likely to trade with a bearish bias. Whereas, the RSI at 30 is near to the oversold territory so a short-term relief rally might trigger from lower levels. 


Marathon Digital (MARA stock) fell 40% in the August month. But still, no signs of recovery are visible. The technical analysis suggests that MARA stock is inside the bear grip and likely to break the $10.00 support. 

Technical levels
  • Resistance levels: $13.24 and $16.09.
  • Support levels: $10.00 and $8.41.

The views and opinions stated by the author, or any people named in this article, are for informational purposes only. They do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

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