Mara not a buy for a while
The one month indicates that Mara will enter a long drawn out consolidation once the bottom is found. There are imbalance around the $3.50 level that will most likely be visited. Mara failed to breakout during the crypto bull run and has lost long term support levels. The bottom indicator is Accumulation and Distribution , which shows there has been distribution and no accumulation. The ADX shows that the downward pressure is actually building and the top indicator shows that MARA is repeat past decline pattern. A buy would be when indicators turn up and price crossing the 5 SMA/EMA on the monthly. It seems that it will take many months to a year before the decline stops, which is what happened in the past. Mara would not be an investment until price breaks and holds the 55 SMA/EMA on the daily time frame. Note, the one month time frame takes a while to play out and things could change but at this moment MARA is not a place to park money.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.