MARA and SOFI Stocks Drop to $13.18 and $12.09 in Market Decline

• MARA rests at $13.18 and SOFI is at $12.09 as the bearish trend persists.
• Both stock prices are not able to break-off and are accompanied with still heavy selling pressure.
• Support does not hold may encourage more declines in the next days.

So-called soFi Technologies and Marathon Digital Holdings Inc. enjoy severe sellouts; their technical charts reflect extremely similar ones. SoFi dropped by an amazing 16.45 percent, or $12.09, from a peak value of up to $14.91, whereas Marathon fell lower by 5.32 percent at less than $13.18 after an earlier hit value of $16.24. Both stock prices have formations of descending wedge, normally indicative of reversal and yet proved a case of inducing deeper downward pressure. It depends on investors’ attention, which weighs with these patterns suggesting either a transient correction or an extended fall.  

SoFi’s chart pointed to a descending wedge often a bullish reversal signal; its recent price action suggests its sellers are still in control. Predictably, high-volatility spikes are denoted with black arrows but proved totally ineffective for upward momentum. Strong resistance levels were confirmed.

It was still trying to huddle up under $14.00 for some time now, the last rejections add to the weight of the bearish sentiment. If the selling pressure remains strong, key support levels of $11.00 and $9.50 can be subjected to testing. Failure to hold these zones may see the stock head to $6.50, last seen in early 2023.

Investor sentiment continues to trend negative reflecting global macro factors such as increased interest rates and pressure on financial technology stocks. Despite very high trading volumes, one could not really count on any self-propelling continued recovery. For any reversal, SoFi must reclaim $14.00 and maintain buying pressure above it.

Like SoFi, Marathon Digital is a price action, wherein the stock failed to break above its descending channel. Although the market has shown increased activity, every high-volume spike has always faced immediate resistance, which means that no breakout has occurred. 

Support levels at $12.00 and $10.50 remain crucial, but if the price starts trading below $13.00, it will quickly make its way to the last tested price, $8.50, in early 2023. So, as of now, the stock is structurally weak and exposed due to the absence of institutional investors in the game. 

Marathon’s current trend is similar to that during the past market cycles; in 2022, when a similar wedge breakdown dried up for an extended period, before eventually recovering. The prospects of any predictive measure, then, remain hazy. The context is still one of vast volatility in bitcoin and regulatory uncertainties surrounding the mining sector.

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