Marathon Digital (MARA) is just starting to pivot higher following the latest Bitcoin halving.
In fact, after catching support at around $14, and becoming a bit over-extended on RSI, MACD, and Williams’ %R, MARA is now up to $19.47. From here, we’d like to see it retest $34.
Helping, MARA has a history of running higher after Bitcoin halving events.
After the BTC halving event on May 11, 2020, for example, MARA ran from about 72 cents to a high of $44.35. Following the halving event on July 9, 2016, MARA ran from about $45 to $48.48. Then, following the halving in 2012, MARA initially dropped from $104 to $38.48 and then recovered to $116.
We’re just starting to see another push higher in the MARA stock now following a new split. Analysts at JPMorgan also raised their price target on MARA to $16.50.