Investor interest in Bitcoin (CRYPTO: BTC) Actions related to Coinbase (NASDAQ: COIN) IPO.
Coinbase is expected to debut on Nasdaq on April 14 and Monday Riot Blockchain Inc (NASDAQ: RIOT) and Marathon Digital Holdings Inc (NASDAQ: MARA) The stocks were trading at a high volume, showing that investors and traders believe the excitement over Coinbase’s public listing will benefit these two crypto mining companies.
The marathon graph: Last Tuesday, Marathon hit a new all-time high of $ 57.75 before falling into a consolidation pattern on the daily chart. Marathon stock jumped 95% between March 25 and April 5, establishing a pole in a bullish flag pattern and the consolidation that has taken place between yesterday and now is in a descending channel that makes up the flag in the model.
Marathon stock is trading above both the eight-day exponential moving average (EMA) and the 21-day EMA, which is also bullish. Bulls want to see Marathon’s stock break above the flag’s upper trendline and push over $ 57.75 to hit a new all-time high. The bears want to see the stock continue to fall in the channel until it loses support at $ 45.20.
The riots graph: On Monday morning, Riot temporarily broke away from a symmetrical triangle formation, breaking through the descending trendline that had held it down since February 19. day the EMA is looking to read to break above the 21 day EMA which is bullish. Because Riot is trading just above the two EMAs, it is not stretched, and if volume enters the stock, it has room for a move to $ 59.33 before reaching a resistance level. .
Bulls want to see Riot’s action move and hold above the upper downtrend line of the symmetrical triangle and jump above the upper resistance for a bigger move up to its all-time high of 79.50 $. The bears want to see the stock break down from the triangle and lose support at $ 47.42.
MARA and RIOT price action: At the time of publication, Marathon was trading up 5.5% to $ 51.71 and Riot was trading up 8.8% to $ 54.
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