$MARA - Watch that critical resistance areaNASDAQ:MARA Marathon digital run into resistance. Watch $22 - $23 critical resistance area for a potential breakout. 👀
$20 looks to be a new support.
MARA trade ideas
Mara target @27Inverted Head and shoulders with strong breakout , increase in volume noticed with positive divergence on RSI
MARA to 24 and possibly 26Mara is in a bottom triangle-bottom wedge formation, and a breakout above the upper trendline should take us to $24 and possibly $26.
$MARA PUT OPTION 5/17 - 5/31 Targets: $7.50 or lowerA highly shilled, highly volatile meme stock for crypto enthusiast. With MARAs average volatility at +/- of $5 per week, a pending death cross, and BTC set to collapse, the odds are just to sweet to pass up.
happy trading ;)
MARA Double Top + Bear FlagTwo bearish patterns within a big structure could signal a big move to the downside.
- BTC itself doesn't look too strong as of this post and they are somewhat correlated by algos
- Twitter pumpers out in full force as well
Price Targets: 14.33 and 10.32 if things get really bad
Marathon Digital Holdings Reports Q1 2024 Results Stock Down 6%Marathon Digital Holdings ( NASDAQ:MARA ), a global leader in leveraging digital asset compute to support energy transformation, reported its financial and operational results for the first quarter that ended March 31, 2024. The company saw an increase in energized hash rate by 142% to 27.8 EH/s in Q1 2024 from 11.5 EH/s in Q1 2023. The company produced 2,811 CRYPTOCAP:BTC during Q1 2024, a 28% increase from Q1 2023. Revenues increased 223% to $165.2 million in Q1 2024 from $51.1 million in Q1 2023. Net income increased 184% to $337.2 million, or $1.26 per diluted share, in Q1 2024 from $118.7 million, or $0.72 per diluted share, in Q1 2023. Adjusted EBITDA increased 266% to $528.8 million in Q1 2024 from $144.5 million in Q1 2023.
The company introduced Anduro, a new multi-chain Bitcoin layer-two network aimed at accelerating Bitcoin development and adoption. It launched the Company's first products and services to support the Bitcoin ecosystem, including Slipstream, MARAFW, MARA UBC 2100, and MARA 2PIC700. The company closed multiple acquisitions of data centers, increasing its mining portfolio to more than 1.1 gigawatts of capacity, 54% of which resides on sites now directly owned and operated by the Company.
Marathon ( NASDAQ:MARA ) also increased its 2024 hash rate target to 50 EH/s, representing approximately 100% growth in hash rate during 2024. The company doubled the size of its portfolio of digital asset compute, launched its first products and services to support the Bitcoin ecosystem, and battled against operational challenges to produce record financial results.
Net income increased 184% to $337.2 million, or $1.26 per diluted share, during the three months ended March 31, 2024, from net income of $118.7 million, or $0.72 per diluted share, in the same period last year. The increase in net income was primarily driven by the favorable mark-to-market adjustment of digital assets from the newly adopted FASB fair value accounting rules, ASU No. 2023-08, Accounting for and Disclosure of Crypto Assets, which requires on-going measurement of crypto assets to fair value.
Revenues increased 223% to $165.2 million in Q1 2024 from $51.1 million in Q1 2023. The increase in revenue was primarily driven by an $82.9 million increase in the average price of bitcoin mined, a $10.4 million increase in bitcoin production, and $20.8 million in revenues generated from providing hosting services as a result of the acquisition of GC Data Center Equity Holdings, LLC on January 12, 2024. The Company sold 26% of the bitcoin it produced during the quarter to fund operating costs.
Gains on digital assets were $488.8 million during the first quarter of 2024, compared to $137.4 million during the same period last year. The $351.4 million, or approximately 256% increase, was primarily related to the price of bitcoin increasing to $71,289 as of March 31, 2024, compared to $28,474 for the prior year period ended March 31, 2023.
Technical Outlook
Despite the positive earnings beat, Marathon Digital Holdings ( NASDAQ:MARA ) stock is down 6.51% on Friday's Market open trading with a Relative Strength Index (RSI) of 49 and trading below the 100-day Moving Average (MA). The daily price chart depicts a bearish hammer head.
Calls on Mara, To the Moon! $$$Playing this for a couple days and the Earnings report was beyond what it was last time!
Trend and Earnings with increased volume should increase demand, decreasing supply
25% INCREASE?????? TOMORROW MORNING?????
*Not financial Advisor*
Marathon Digital Holdings Long PositionHi traders,
Turning our attention to Marathon Digital Holdings, Inc., we can observe the formation of an inverted Head & Shoulders patterns over the past few weeks, signaling a potential bullish reversal.
Marathon Digital Holdings operates as a digital asset technology company, primarily focused
on mining cryptocurrencies such as Bitcoin. The performance of Bitcoin in the market can
have a significant impact on Marathon Digital Holdings, as it is primarily engaged in Bitcoin
mining. Nowadays Bitcoin performs well, so it generally results in increased profitability for
mining companies like Marathon Digital Holdings, as the value of the mined coins rises.
As the price approaches the neckline of the inverted Head & Shoulders patterns, a breakout above this level confirms the bullish reversal.
1st Take Profit: 22.44.
2nd Take Profit: 26.23
Final Target: 28.8
Marathon Digital stock Listed in S&P 600 IndexBitcoin mining company Marathon Digital ( NASDAQ:MARA ) has seen its stock value rise by 18% after being listed by S&P Global in its SmallCap 600 index. The company's market cap rose by about $800 million over the weekend, marking a significant achievement for the digital asset company. The SmallCap 600 index is an index of companies with a small market cap, selected based on their recent profitability and other features. The companies considered to be small-cap must have a market cap of $1 billion to $6.7 billion.
Marathon Digital ( NASDAQ:MARA ) has filed an 8-K with the SEC for compensation of some of its highest executives, stating the company's commitment to providing long-term incentives to workers as part of its LTIP Awards.
The incentive is being awarded to three of the company's executives, including CEO Fred Thiel, CFO Salman Khan, and General Counsel Zabi Nowaid. The move is expected to boost morale and align the executives' interests with those of the company's stockholders.
Despite its inclusion in the S&P 600, Marathon Digital ( NASDAQ:MARA ) stock is down 2.25% with a Relative Strength Index (RSI) of 57 posing signs of a reversal trend in the near to long term.
Marathon Digital ( NASDAQ:MARA ) stock is trading below the above the 200-day Moving Average (MA).
MARA Marathon Digital Holdings Options Ahead of EarningsIf you haven`t bought the dip on MARA:
Then analyzing the options chain and the chart patterns of MARA Marathon Digital Holdings prior to the earnings report this week,
I would consider purchasing the 20usd strike price Calls with
an expiration date of 2025-1-17,
for a premium of approximately $7.85.
If these options prove to be profitable prior to the earnings release, I would sell at least half of them.
MARA 01/05/2024MARA is at the RL, However we couldn’t pass the Monthly resistance level. If we go down to fill the imbalance and re enter the range I will consider to open position. That scenario makes more sense to me. Or, if we pass the previous high level.
MARA Will go Bearish before EarningsThe bearish momentum of Mara stock is expected to continue at least until the earnings date. On the daily chart timeframe, from the last lower high to the higher low, using Fibonacci retracement, we can see the golden zone of the pullback extends from 0.50 to 0.68, suggesting that the downtrend may continue.
A second confirmation comes from the RSI, which is currently at 40, indicating that we are not yet in oversold territory.
It appears that Mara is on track to reach $14 before the earnings date on May 24th.
The Marathon Continues: $MARASince our initial investment in Marathon Digital Holdings NASDAQ:MARA in early October 2023 at $7.31, the landscape has dramatically transformed, propelling Mara to a striking $33.77. However, the journey hasn't been devoid of challenges, notably the three-month sideways movement troubling the stock and a pervasive sense of FUD (Fear, Uncertainty, Doubt) among later entrants lacking substantial unrealized gains. This period has ignited queries regarding Marathon's performance divergence from Bitcoin, especially when contrasted with entities like Microstrategy NASDAQ:MSTR , which leverages Bitcoin's movements more directly.
The Short Squeeze Anticipation Amidst a Bull Market
A critical aspect influencing Mara's trajectory is the significant short interest, temporarily curtailing its ascent. However, the notion that short sellers could thrive unscathed in a bull market is quickly dispelled when considering the potential for a short squeeze. Market makers are poised on the edge of their seats, anticipating the revelry as Bitcoin aims for the $80-100k mark, setting the stage for a triumphant rally.
The Path to Parabolic Growth
Expectations are set high with a projected parabolic surge leading to an intermediate target of $84, following a minor correction. The ultimate aspiration harks back to the inaugural high of $234 in 2012, a benchmark set at the dawn of Marathon's journey. While this target appears ambitious from the current vantage point, the culmination of a parabolic trend's force could make it a tangible reality. As always, this ideal scenario warrants meticulous analysis at each juncture, with adjustments made as necessary.
Technological Innovations Paving the Way
An unforeseen variable in many analysts' projections is the technological advancements driving Marathon forward. The recent announcement of the MARA 2PIC700 cooling system for Bitcoin mining rigs marks a significant milestone, underscoring Marathon's commitment to innovation in both software and hardware domains. This development not only enhances the operational efficiency of Bitcoin mining activities but also positions Marathon as a frontrunner in adopting and advancing technology within the crypto-mining industry.
Here is a YouTube video of the new cooling system:
www.youtube.com
In summary, Marathon Digital Holdings presents a compelling narrative of growth, innovation, and resilience. With a keen eye on Bitcoin's trajectory, technological advancements, and the broader market dynamics, Marathon is poised for significant movements. Investors and observers alike should stay attuned for updates, as the journey of Marathon Digital Holdings unfolds in fascinating and potentially lucrative ways.
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MARA - ShortWent short at 19.80, supply, Head and shoulders? Btc is dropping, Mara should see a reaction as they are cointegrated.
Marathon Digital Aims to Double Hash Rate Amid Bitcoin HalvingMarathon Digital ( NASDAQ:MARA ), a prominent Bitcoin miner, sets its sights on doubling its hash rate by the end of 2024, following the recent Bitcoin halving. Despite the halving's impact on block subsidy rewards, the company is optimistic about its growth trajectory, leveraging increased machine orders and capacity from recent acquisitions. This move underscores Marathon's commitment to expanding its mining operations and embracing newer, more efficient equipment to enhance fleet efficiency.
Marathon Digital ( NASDAQ:MARA ), a key player in the Bitcoin mining sector, has announced ambitious plans to ramp up its hash rate, targeting a 100% growth by the close of 2024. This strategic decision comes in response to Bitcoin's recent halving event, which slashed miners' block subsidy rewards by half.
Starting the year with a hash rate of approximately 24.7 exahash per second (EH/s), Marathon originally aimed for a modest 46% increase in hash rate, eyeing a range of 35-37 EH/s by year-end. However, fueled by a surge in machine orders and expanded capacity post-acquisitions, the company now anticipates reaching a fully funded hash rate of around 50 EH/s by the end of 2024.
Marathon's Chairman and CEO, Fred Thiel, emphasized the company's robust growth strategy, stating that the increased capacity and hash rate target are fully funded, requiring no additional capital infusion. Thiel highlighted the deployment of state-of-the-art equipment and proprietary technology as key drivers for achieving greater efficiency, aiming for 21 joules per terahash as they scale to 50 exahash.
Despite concerns surrounding the halving's impact on miners' revenue, Marathon remains upbeat about the industry's resilience. The company's Vice President of Corporate Communications, Charlie Schumacher, noted that the mining sector effectively weathered a "halving event" last year, with Bitcoin's difficulty rate doubling in 2023. Schumacher expressed confidence in the industry's ability to adapt, with major players like Marathon preparing for such challenges over the years.
While some analysts have raised cautionary flags regarding the potential impact of the halving cycle on miner revenue, Marathon's performance post-halving has been promising. The company reported a 25% increase in its stock price in the days following the halving, signaling investor confidence in its growth prospects.
Looking ahead, Marathon's bullish stance on hash rate expansion reflects broader trends in the Bitcoin mining landscape. Despite regulatory and market uncertainties, miners are doubling down on their infrastructure investments, betting on the long-term viability of Bitcoin mining. With Marathon leading the charge, the industry is poised for further innovation and consolidation, paving the way for sustainable growth in the digital asset ecosystem.
"Mara: The Matador Muncher"By combining diligent research, proactive risk management, and a focus on long-term value, you can navigate the volatility surrounding Mara mining stock and potentially capitalize on the anticipated BTC halving event.
Mara 42524Appears to be in a dragon pattern. Most of the time these run at minimum to the top of the structure. In my opinion, miners are a buy and I will continue to buy them for the rest of this year. MARA has made an incredible recovery and overcoming bankruptcy like it never happened.
This is going to outperform BTC
If you are bullish on Ordinals, Runes, Bitcoin. You have to be bullish on its miners
$MARA: Ready to Launch! PT: $26Hello everyone,
NASDAQ:MARA price was able to get above the daily and weekly, suggesting a bullish orientation. Price will accelerate to $26. Looking at the daily and weekly as support.
Looking great for crypto miners so far.
NFA!
MARA Flagging: Big Move AheadMARA is flagging on the 5 minute and 15 time frame. Look for some more consolidation and then a big bounce to one direction.
Marathon Digital Holdings, Inc. (MARA) - Technical AnalysisAs of the latest market session, Marathon Digital Holdings, Inc. (MARA) presents a compelling case for traders eyeing opportunities in the digital asset sector. Trading at $17.12, the stock shows intriguing technicals supported by both short-term momentum indicators and classical chart patterns. Here is a breakdown of the various technical elements at play:
Ichimoku Cloud Analysis:
The price has recently pushed through the Ichimoku cloud on the 4-hour chart, which is typically a bullish signal. However, the future cloud is red and expanding, indicating potential resistance ahead. The Tenkan-sen (blue line) has crossed above the Kijun-sen (red line), confirming the bullish sentiment. The Chikou span is also above the price from 26 periods ago, adding to the bullish outlook. This setup suggests potential entry points on pullbacks near the cloud top around $16.50, assuming the bullish trend continues.
Volume and Price Action:
Volume has shown a slight uptick on the last bullish candle, which is encouraging for bulls, yet the volume profile should be monitored for sustainability of the trend. The price is facing immediate resistance near the $17.45 mark. Should the volume support a breakout, we may see a push towards the $19.42 area, delineated by the recent highs and Fibonacci retracement levels.
Relative Strength Index (RSI) and Stochastics:
The RSI, sitting just above the mid-line at 51.02, suggests momentum is leaning bullish without being overextended. The stochastic oscillator also supports this, as both %K and %D lines are rising above the oversold territory and are yet to breach into the overbought zone.
Moving Average Convergence Divergence (MACD):
The MACD is above the signal line and has turned positive, a bullish sign. The histogram is expanding in the positive territory, suggesting growing bullish momentum.
On Balance Volume (OBV):
OBV is trending upwards, indicating that volume on up days is outpacing volume on down days, which is a positive sign for the stock.
Price Targets and Trading Strategy:
Entry Point: For bullish traders, a retest of the breakout point near $16.50 could serve as a good entry point, with the Ichimoku baseline (Kijun-sen) acting as dynamic support.
Initial Target: The immediate price target, assuming continued bullish pressure, would be around $19.42, representing a confluence of the previous resistance and the 78.60% Fibonacci retracement level.
Extended Target: If the bullish trend gains further traction, the extended price target could be set around $22, aligning with the upper bounds of past trading ranges.
Stop-Loss: A prudent stop-loss strategy could be placed just below the Ichimoku cloud, around $15.80, to mitigate downside risk.
Speculative Considerations:
Given the stock's correlation with cryptocurrency markets and the news snippet hinting at a rise in Bitcoin mining stocks, a sustained rally in digital assets could serve as a tailwind for MARA, potentially pushing it towards the higher end of the target spectrum.
Sell Strategy:
Conservative: Traders might consider taking profits near the initial target of $19.42, especially if volume begins to decline or the RSI approaches overbought levels.
Aggressive: Holding for a push towards $22 could maximize gains, but would require careful monitoring of the indicators for signs of reversal.
Conclusion:
In conclusion, MARA presents a bullish technical setup in the short term with clear indicators for entry and exit points. While the current sentiment leans towards buying, traders should remain vigilant for shifts in momentum or volume, which could suggest a reevaluation of positions is necessary. As always, traders should ensure their trading strategy includes risk management measures tailored to their individual risk appetite and investment goals.
