Artem Voloskovets
⬤ IREN has finished a major wave 4 pullback, bottoming just below the 0.236 Fibonacci retracement level of wave 3. The stock dropped more than 50% during this correction—a typical reset pattern for momentum stocks before launching into their next significant uptrend.
⬤ The critical level to watch is the 50-day moving average, which currently acts as key technical support. As long as IREN holds above this MA, the stock appears ready to enter wave 5, with price targets between $108 and $148. This range represents substantial upside potential from current levels and signals a possible strong recovery phase.
⬤ Chart patterns indicate IREN is following the typical momentum stock trajectory after a large correction. The price action shows signs of stabilization, and if the rally develops as expected, wave 5 could deliver a pivotal upward move. With favorable market conditions and the stock maintaining position above its 50-day MA, IREN is positioning itself as a potential standout performer in its sector, targeting the $108–$148 range.
Artem Voloskovets
