Chart of Day: Marathon Digital (MARA) – 4/24

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.

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