Will Marathon Digital stock hold $8.68 support as large-scale Bitcoin liquidation weighs?

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Marathon Digital slides 3.72% today

Highlights

Marathon Digital raised $1.6 billion by selling 23,093 Bitcoin in early 2026 to fund operations, reduce debt, and invest in infrastructure and AI.
The company pledged 18,750 Bitcoin to secure $600 million in loans and received $450 million in new funding, leaving 35,577 Bitcoin mostly encumbered as of June 30, 2026.
Shares of Marathon Digital face persistent bearish momentum, trading below key moving averages with strong downside risk and an expected range of $8.68 to $10.76.

Liquidity boost and collateral pledges fail to offset selling pressure

Marathon Digital sold approximately 23,093 Bitcoin in the first half of 2026, raising about $1.6 billion to fund operations, reduce debt, and accelerate investment in infrastructure and AI, according to Quiverquant. On August 4, 2026, the company pledged 18,750 Bitcoin as collateral to secure $600 million in new loans allocated for corporate and energy asset needs, as well as further AI expansion, as reported by Crypto. These moves leave Marathon Digital with 35,577 Bitcoin as of June 30, 2026, much of it encumbered for collateral, while the company also received $450 million in new funding from Coinbase and refinanced an existing $150 million credit line. Despite these liquidity enhancements, price action has remained under broader selling pressure.

Bearish momentum and oversold signals intensify below moving averages

MARA remains below its MA-20 ($10.61) and MA-50 ($11.25) on the hourly chart, and also trades under the MA-200 ($11.55) on the daily timeframe. The Ichimoku Kijun at $10.82 serves as immediate resistance. Momentum indicators are firmly negative, with MACD and ADX confirming a strong sell bias. RSI stands at 26.13, indicating oversold conditions, as do CCI and Bull/Bear Power. Stochastic RSI is neutral, showing indecision intraday, whereas the Awesome Oscillator supports the ongoing bearish pressure.

Downside risk dominates as volatility defines short-term range

In the short term, price is expected to trade within the $8.68 to $10.76 range, reflecting the current volatility band relative to prevailing levels. The likelihood of further downside remains high, while a sustained move higher is considered unlikely. If price overcomes resistance at $10.82, MARA could move toward the top of the projected range, while a break below support would likely see a push to the $8.68 level.

Viktoras Karapetjanc, expert at Traders Union, sees Marathon Digital’s large Bitcoin sales and new financing as strong strategic actions to ensure liquidity and fund future growth. He believes these moves signal management’s commitment to both operational stability and long-term innovation, despite the current bearish momentum. Short-term pressure remains, but the company’s proactive approach may support resilience as broader sentiment improves. "If price can clear immediate resistance at $10.82, I expect buyers to regain confidence and push MARA toward the top of the range."

Previously it was reported that Marathon Digital shifted its treasury approach by selling a significant portion of its Bitcoin holdings and pledging additional reserves as collateral to unlock operational liquidity and fund corporate initiatives. The current article adds that, despite these substantial capital-raising efforts and increased assets pledged, traders should closely monitor the $10.82 resistance and $8.68 support as key inflection points for near-term price direction.

Source of Data: MARA Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

The information is based on forecasts and does not constitute investment advice or a guarantee of future results. Market conditions may change. See our Disclaimer and Editorial Integrity for details.