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Marathon Digital Holdings Inc. (NASDAQ:MARA) gained 3.7% on Friday after reporting a September Bitcoin (CRYPTO: BTC) production of 736 BTC and disclosing its treasury rose to 52,850 BTC.
The company said its September output increased 4% from August, with 218 blocks mined.
Despite noting it was a net seller of bitcoin during the month, Marathon's overall holdings grew from 50,639 BTC in August to 52,850 BTC by the end of September, according to public data.
Marathon positions itself not only as a leading bitcoin miner but also as one of the largest corporate treasuries, second only to Strategy Inc. (NASDAQ:MSTR), which holds more than 640,000 BTC.
MARA stock price has been carving out a bullish cup-and-handle structure since early September.
Price is now testing neckline resistance around $20–21, a level aligned with a descending trendline from late 2024.
A decisive close above this zone would confirm the breakout pattern, potentially targeting $24–26, with extended upside toward $28.
Read also: Bitcoin Rockets To $123,000 As Standard Chartered Forecasts $135,000 Target
The 20-day EMA at $17.56 and 50-day EMA at $16.88 are rising, while the 100- and 200-day EMAs sit near $16.50, reinforcing support levels.
If the stock retreats, the $17 region remains the first defensive floor.
The RSI stands at 65, indicating strong momentum without immediate overbought signals. Traders will watch closely as the stock approaches critical resistance.
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