Marathon Digital Holdings (NASDAQ: MARA) has reached its lowest daily Relative Strength Index (RSI) level in over two years, sparking speculation of a potential breakout.
Historical RSI Low and Growth Potential
The last time MARA's RSI reached a similar level, the stock surged by over 1,000% in the following year. The current setup is compared to early 2023, where a similar dip in RSI coincided with a rapid recovery and multi-fold price expansion.
Critical Support and Resistance Levels
MARA is currently trading around $9.18, just above a historically significant support zone near $8.50. The chart illustrates a descending triangle formation, with resistance around $19.12 and a major breakout target near $64.78.
Market Sentiment and Past Cycles
The market reflects growing speculative interest, with traders positioning for a potential upside move. Historical comparison suggests significant changes might be on the horizon.
With a history of exponential rallies following deep RSI lows, MARA’s current positioning signals a potentially high-stakes scenario if developments unfold favorably.
