Marathon Digital Holdings, Inc. MARA shares are trading higher on Thursday. The stock has recently slowed the losses it made earlier in the month. Here's what you need to know.
What To Know: Marathon shares have consolidated over the past week, providing some relief after the massive selloff in the stock throughout much of January. Marathon stock, as well as the broader crypto sector, pulled back sharply in the wake of the SEC's Bitcoin ETF approval.
While the price of Bitcoin fell below $39,000 earlier in the week, the cryptocurrency was soon able to push back above the price. As of Thursday afternoon, the price hovered just below $40,000.
Likewise, while Marathon shares made a new low last Friday, the stock was able to push back up, consolidating along the 60-day moving average for the past week. Shares have faced resistance just above the $17 mark, with support around $15.50.
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MARA Price Action: Shares of Marathon were up 4.79% at $16.40 at the time of publication, according to Benzinga Pro.
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