Saad Ullah
⬤ Iris Energy (NASDAQ: IREN) is drawing fresh bullish attention as a prominent investor doubled down on their conviction with a $100 price target. The holder has maintained a core position bought in the low $10s and won't sell the next chunk until shares hit triple digits. They previously trimmed some exposure in the $60–$70 range, but that profit-taking hasn't shaken their long-term confidence in IREN's potential.
⬤ The weekly chart tells the story of a stock in consolidation mode. IREN has pulled back from above $70 and is now testing a rising support trendline where buyers are starting to show up. Fibonacci extension levels point to potential targets around $76.51 and $103.13. The RSI shows momentum cooling off after the explosive rally, but the stock is still holding within its broader uptrend following a massive run over the past year.
⬤ As a Bitcoin mining and digital infrastructure player, IREN tends to move with crypto market sentiment. The current pullback has brought the stock to a technically significant support zone. The investor emphasized patience, making it clear they're playing the long game rather than sweating short-term price swings.
⬤ IREN has been one of the standout performers in the crypto-exposed equity space, and this continued conviction from established holders shows appetite remains strong. If support holds here, the technical setup suggests higher levels are still in play—though performance will ultimately depend on broader market conditions and sentiment around digital asset stocks.
Saad Ullah
