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Marathon Digital Shows Strength Compared To Bitcoin As Traders Secretly Watch The Stock

Published

2 months ago

April 18, 2023

Marathon Digital Holdings MARA opened at Friday’s low-of-day on Monday, in tandem with Bitcoin, which was declining almost 3%.On Friday, Marathon Digital was mentioned on Benzinga’s Stock Whisper Index as a company under the surface that warrants attention because traders are secretly watching the stock.Marathon Digital surged 54% between April 10 and Friday, blasting through the 200-day simple moving average (SMA) on the daily chart after consolidating under that level since March 17.The 200-day SMA is an important bellwether. Technical traders and investors consider a stock trading above the level on the daily chart to be in a bull cycle, whereas a stock trading under the 200-day SMA is considered to be in a bear cycle.The 50-day SMA also plays an important role in technical analysis, especially when paired with the 200-day. When the 50-day SMA crosses below the 200-day SMA, a death cross occurs, whereas when the 50-day SMA crosses above the 200-day, a bullish golden cross takes place.Want direct analysis? Find me in the BZ Pro lounge! Click here for a free trial.The Marathon Digital Chart: Despite Bitcoin trading near its low-of-day, traders came into Marathon Digital and bought the dip. The dip buyers caused Marathon Digital to bounce up from its low-of-day to print a bullish Marubozu candlestick, which could indicate higher prices wil come on Tuesday.
Marathon Digital has been trading in an uptrend since March 10, making a consistent series of higher highs and higher lows. The stock’s most recent higher high was formed on Friday at $12.27 and the most recent higher low was printed at the $7.65 mark on April 6.
If Marathon Digital bounces on Tuesday, Monday’s low-of-day will serve as the next higher low within the pattern, indicating the uptrend is likely to continue. If Marathon Digital falls to lose support at the eight-day exponential moving average, the stock could retest support at the 200-day SMA.
Bullish traders want to see Marathon Digital continue to hold above the 200-day SMA, which will eventually cause the 50-day SMA to cross above the 200-day. Bearish traders want to see big bearish volume come in and knock the stock down under the 200-day SMA.
Marathon Digital has resistance above at $14.66 and $19.51 and support below at $9.93 and $7.79.
Read Next: These 2 Ethereum Rivals Are Spiking Today, Outperforming Bitcoin
Photo via Shutterstock.

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CryptoPunk #7026 Sold For 99 ETH

Published

2 months ago

April 18, 2023

CryptoPunks are a generative art collection, and one of the first ever applications of NFTs for digital art. There are only 10,000 Punks in existence, and some of them are thought to be lost forever. What happened: CryptoPunk #7026 just sold for 99.00 ETH ETH/USD ($206,315 USD). The value of CryptoPunks is typically determined by Punk’s attributes, with the hoodie, beanie, and pilot helmet traits being the most coveted. Other species of Punks (Zombies, Apes and Aliens) are incredibly rare and also sell for a premium.Here are a list of its attributes and how many other Punks have the same trait:
Accessory: Earring (2,459)
Accessory: Mustache (288)
Type: Male (6,039)
Accessory: Cowboy Hat (142)
Accessory: 3 Attributes (4,122)
Why it Matters: Cryptopunks are the ultimate rookie card for NFT collectors. CryptoPunks have earned huge influence in 2021, with dozens of Celebrities proudly showing off their punk ownership on Twitter. Cryptopunk sales are a leading indicator for the rest of the NFT market, and go to show that some are willing to spend serious coin on blockchain based art.Price Action: Ethereum is currently trading at $2,084.11, down 1.6% over the past 24 hours.See Also: NFT Release Calendar and Best NFT Projects of 2021Data provided by OpenSea.Checkout the full cryptopunk collectionYou can learn more about this NFT here.This article was generated by Benzinga’s automated content engine and reviewed by an editor.

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Cardano Down More Than 3% Within 24 hours

Published

2 months ago

April 18, 2023

Cardano’s ADA/USD price has decreased 3.15% over the past 24 hours to $0.44. This is contrary to the coins performance over the past week where it has experienced an up-trend of 11.0%, moving from $0.39 to its current price.The chart below compares the price movement and volatility for Cardano over the past 24 hours (left) to its price movement over the past week (right). The gray bands are Bollinger Bands, measuring the volatility for both the daily and weekly price movements. The wider the bands are, or the larger the gray area is at any given moment, the larger the volatility.The trading volume for the coin has climbed 104.0% over the past week, moving opposite, directionally, with the overall circulating supply of the coin, which has decreased 0.04%. This brings the circulating supply to 35.05 billion, which makes up an estimated 77.88% of its max supply of 45.00 billion. According to our data, the current market cap ranking for ADA is #7 at $15.33 billion.Powered by CoinGecko APIThis article was generated by Benzinga’s automated content engine and reviewed by an editor.© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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CryptoPunk NFT Sold For 53 ETH

Published

2 months ago

April 18, 2023

CryptoPunks are a generative art collection, and one of the first ever applications of NFTs for digital art. There are only 10,000 Punks in existence, and some of them are thought to be lost forever. What happened: CryptoPunk #9174 just sold for 53.10 ETH ETH/USD ($110,659 USD). The value of CryptoPunks is typically determined by Punk’s attributes, with the hoodie, beanie, and pilot helmet traits being the most coveted. Other species of Punks (Zombies, Apes and Aliens) are incredibly rare and also sell for a premium.Here are a list of its attributes and how many other Punks have the same trait:
Accessory: 2 Attributes (3,279)
Accessory: Stringy Hair (463)
Type: Male (6,039)
Accessory: Front Beard Dark (260)
Why it Matters: Cryptopunks are the ultimate rookie card for NFT collectors. CryptoPunks have earned huge influence in 2021, with dozens of Celebrities proudly showing off their punk ownership on Twitter. Cryptopunk sales are a leading indicator for the rest of the NFT market, and go to show that some are willing to spend serious coin on blockchain based art.Price Action: Ethereum is currently trading at $2,084.11, down 1.6% over the past 24 hours.See Also: NFT Release Calendar and Best NFT Projects of 2021Data provided by OpenSea.Checkout the full cryptopunk collectionYou can learn more about this NFT here.This article was generated by Benzinga’s automated content engine and reviewed by an editor.