MARA Build Rally As Bitcoin Eyes $70K milestone as US Election Nears

I am holding my position to wait for the price target to near $26 before considering whether we want to exit the position.

7DMA transaction on the Bitcoin Network have seen a slight dip but it looks like it is picking up soon, so we might be expecting some more buying from existing investors or new ones.

The number of active addresses on the Bitcoin Network using 7DMA just provide us some confirmation that we are seeing it increasing as more and more transactions should be expected as Bitcoin makes its run towards $70K and above.

If we observed how MARA have reacted to the Bitcoin surged over the weekend to above $69,500, the reaction from MARA looks promising for another new highs, though it is trading range bound between $19.10 to $19.56.

If it continue to maintain above the $19 dollars, we could see a rally building.

We are seeing that MARA have cross to above short-term and long-term MA, and MACD is also making an upside movement, this indicate that market is positively loading MARA as Bitcoin is seen to eye the $70K milestone.

MARA on the KDJ have been showing significant upside with the J value coming in above the $100 value for more than 3 trading sessions, this could indicate that MARA might try for a new highs which I have taken the lower highs previous at around $22.

If we looked at the last rally in July for MARA, it is actually trading near that level, and we have Bitcoin hitting new highs also in mid-July, so I am expecting MARA to clear the $20 level, but we might expect a dip to near $21.50, before making upside movement to $22.60 if Bitcoin strength continues

As both candidates in the US election have expressed different level of support for crypto, so we might be able to see this benefitting MARA to eventually reach above $26.

I am expecting MARA to benefit from Bitcoin upside movement as it eyes $70,000 milestone. We might see interests from new addresses as investors are going into this crypto as a form of alternate investment.

The equity market might have priced in the US election outcome as investors are looking for alternative assets to reduce the risks.

MARA is in a good position to benefit from this Bitcoin strength build up.

Appreciate if you could share your thoughts in the comment section whether you think MARA would continue to build its rally as Bitcoin continued to stay strong.

Disclaimer: The analysis and result presented does not recommend or suggest any investing in the said stock. This is purely for Analysis.