您现在的位置是:Marathon Digital (MARA) stock price death cross forms as BTC recoils >>正文
Marathon Digital (MARA) stock price death cross forms as BTC recoils
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛2577人已围观
简介Marathon Digital (NASDAQ: MARA) stock price continued plunging this week asBitcoinresumed its sell-o...
Marathon Digital (NASDAQ: MARA) stock price continued plunging this week as Bitcoinresumed its sell-off. The shares crashed to a low of $7.85 on Thursday even as American stocks continued retreating. It has dropped by more than 60% from the highest level in September.
The key driver for Marathon stock price is Bitcoin’s price action. The same applies for other Bitcoin miningcompanies like Riot Platform and BitDigital (BTBT). These stocks jump when BTC is in an uptrend and vice versa. This happens because these companies make money mining and selling Bitcoin in the open market.
It also happens because these firms hold substantial Bitcoin in their balance sheet. Therefore, MARA stock price has plunged as Bitcoin has remained in a consolidation phase in the past few months. It jumped to above $28,000 earlier this month and then retreated sharply to about $26,000.
The ongoing Bitcoin sell-off should not worry investors since it is in the range it has been in the past few months. Nonetheless, traders should pay a close attention to last month’s low of $24,800. A volume-supported move below that level will signal that there are still more shorts left in the market.
The next key catalyst for Marathon Digital stock price will be the company’s earnings scheduled for November 14th. It will also keep an eye on Bitcoin prices and earnings by other Bitcoin mining stocks.
Meanwhile, MARA stock has formed a death cross pattern, which forms when the 200-day and 50-day moving averages make a bearish crossover. The pattern happened on September 28th and is a sign that the shares will continue falling in the coming weeks.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/5672.html
相关文章
Quantum computing algorithm could help develop carbon capture method
Marathon Digital (MARA) stock price death cross forms as BTC recoilsBy subscribing, you agree to our Terms of Use and Policies You may unsubscribe at any time.A team of...
阅读更多
Compound protocol token maintains uptrend
Marathon Digital (MARA) stock price death cross forms as BTC recoilsCompound protocol plays a role in DeFi through crypto lending.The protocol runs on the Ethereum bloc...
阅读更多
BarnBridge is surging today: here’s where to buy BarnBridge
Marathon Digital (MARA) stock price death cross forms as BTC recoilsThe live BarnBridge price today is $7.55 with a 24-hour trading volume of just under $120 million. B...
阅读更多
热门文章
- Berkeley researchers build humanoid that taught itself to walk
- US Air Force looks to make jet fuel out of thin air
- MIT’s new sensor can power itself without a battery
- Crypto crash today: Major cryptos in freefall, where to buy the dip
- NASA's 3D
- Gecko Robotics expands use of climbing robots with US Navy approval