• MARA drops 1.5% daily and 7.7% weekly amid broader market weakness.
• Price holds near $18.42, reflecting resilience despite bearish sentiment.
• Key resistance between $23–$25 remains the main obstacle for a breakout.
• RSI and MACD show early signs of bullish recovery, but need confirmation.

MARA Holdings Inc. (MARA) faces mild downward pressure but continues to demonstrate resilience in a bearish market environment. The token has experienced a decline of 1.5% in the past 24 hours and a steeper 7.7% drop over the last week, reflecting market weakness.

At the time of writing, MARA is trading at $18.65, with a daily trading volume of $80.56 million, down 1.4% in the same period. Its market capitalization stands at $6.82 billion, reflecting a slight decline of 7.67% amid broader market uncertainty.

Also Read: Bitcoin July Highlights: What’s the Price of the Next Leg?

MARA Nears Critical Resistance Zone

According to crypto analyst Cantonese Cat, the asset recently faced rejection near a multi-year descending trendline that extends from its 2021 peak above $200. This long-term resistance remains a major obstacle to bullish continuation. After rebounding from the $16 area to around $21.40, MARA’s momentum faded near the $23–$25 region, suggesting that sellers continue to defend this area strongly.

Even with this pullback, MARA’s chart structure appears healthier than in previous months. Since late 2022, the stock has formed higher lows, signaling steady accumulation and gradual investor confidence. The developing symmetrical triangle pattern suggests consolidation before a major breakout. Holding above $17.50 will be vital for bulls to maintain strength and push for a move beyond the $23–$25 resistance.

If there is a close above $25, MARA may validate a breakout of its multi-year downtrend. This would bring the door toward $29 and potentially $36–$40, as long as Bitcoin’s larger market environment continues to be healthy. If there is a drop below $17.50, supports are $15.00 and $11.80, which are levels that which historical buying interest tends to reappear.

RSI and MACD Signal Potential Recovery

Technical indicators reflect a cautiously optimistic tone. The MACD line crossed over the signal line, standing at –0.18544 against –0.24033, with a plus-looking histogram of +0.05488. This indicates that momentum on the downside may be disappearing, and buying momentum may be re-emerging.

On the other hand, RSI shows 42.80, bouncing back from a prior low around 28.86. Despite still being lower than the neutral point of 50, the reversal signals initial accumulation and renewed purchases. Persistent crossing higher than 50 will validate a more aggressive bullish mood. Two indicators together indicate that MARA perhaps gets set for a technical reversal, waiting for further validation from price movement in progressing sessions.

Also Read: MARA CEO Encourages Bitcoin’s Long-Term Growth Strategy