- MARA’s weekly chart forms a clear cup-and-handle pattern, yet remains below the key $21–$22 resistance zone.
- Support at $16.50 continues to hold firm, showing buyer interest despite rejection from the upper range.
- Reduced volume and tightening price action signal consolidation, suggesting the next decisive move is approaching.
MARA Holdings’ weekly chart shows a developing cup-and-handle structure, yet the pattern has not confirmed a breakout. Price action stalled near the $21.00 to $22.00 resistance zone, an area that has repeatedly capped previous upward attempts. The stock trades around $18.63, slightly below last week’s close, as selling pressure increases near this critical range. This pause highlights traders’ caution following several weeks of sustained upward movement.
Key Resistance Limits Upward Momentum
The resistance level between $21.00 and $22.00 is still considerable. Every one of the tests of this range made in the recent months led to the rapid rejection, and this proves the presence of strong overhead supply. The recent handle formation developed as price retreated from this upper boundary, maintaining a higher low near $16.50. This structure suggests that while buyers are active, momentum remains capped until the resistance clears decisively.
However, the limited downside reaction indicates a stabilizing base beneath current levels. Volume during recent weeks also declined slightly, a common characteristic of handle formation phases as volatility tightens. This narrowing range often precedes directional movement, depending on how price reacts to the defined resistance.
Price Structure Suggests Consolidation Before Next Move
The current configuration reflects a market in consolidation rather than reversal. The right side of the cup shows steady higher lows, indicating gradual accumulation. Yet, the lack of breakout above $22.00 keeps the broader structure neutral for now. A close upward above the same period would indicate continuation but until this happens, the stock is locked into a mid-term range.
It is important to note that the area around $16.50 has short-term supports that are often being bid in so far as there is no probability of the area attracting deeper backward movements. In case this support is broken, traders can expect to see new tests of the previous levels around $14.00. Conversely, holding this zone keeps the structure intact and maintains potential for a renewed upward attempt.
Technical Landscape Remains Balanced
All in all, the weekly structure at MARA indicates a balance between the buyers and sellers. The clear cup-and-handle structure is still unengulfed by a clean harvesting. Hitherto, the larger context is indicating a sideways-to-upward bias, which was elaborated through tightening volatility and uniform defense of near term support.
