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As cryptocurrency melts down, the stocks of many crypto-related companies have followed. For some of them, significant resistance has formed above current trading levels. This could keep a top on them, at least in the short run.
They include Marathon Digital Holdings, Inc. (NASDAQ: MARA), SOS Limited (NYSE: SOS), and BIGG Digital Assets Inc. (OTC: BBKCF).
See Also: Report Shows Over $2B Worth Of Bitcoin Bought During The Dip
The $28.75 level was support for Marathon Digital. Support levels can convert into resistance and that could happen here.
Many of the investors who paid $28.75 now regret their decision because the price is lower. A number of these investors decide to sell, but they're reluctant to take a loss.
As a result, they place their sell orders at their buying price. In this case, it's $28.75. If there are enough of these sell orders, it will form resistance.
The $3.90 level was support for SOS. Now it is a resistance level.
For BIGG the resistance is at $1.80. Sellers at this level have kept a top on the price for a month.
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