Is Marathon Digital Holdings, Inc. technically bullish or bearish?

As of 26 September 2025, the technical trend for Marathon Digital Holdings, Inc. has changed from sideways to mildly bullish. The weekly MACD is bullish, while the monthly MACD remains bearish. Daily moving averages indicate a mildly bullish stance, and Dow Theory supports this with a mildly bullish signal on the weekly timeframe. However, the monthly indicators, including Bollinger Bands and KST, are mildly bearish.
In terms of performance, the stock has underperformed the S&P 500 over the year and year-to-date, with returns of -7.93% and -3.82% respectively, compared to the S&P 500's 15.64% and 12.96%. Over longer periods, the stock shows significant gains, particularly a 735.75% return over the past five years, which outpaces the S&P 500's 101.42%. Overall, the current technical stance is mildly bullish, driven primarily by the weekly MACD and moving averages.