Saad Ullah
⬤ IREN Limited (IREN) has posted an impressive comeback after bouncing decisively from its late-2025 lows. The daily chart shows the stock reversing course after finding solid support around $33, where selling dried up and buyers stepped in with force. The rally played out over roughly one month, pushing IREN up more than 75% from its recent bottom.
⬤ The chart reveals a completed downward trendline that had capped price action during the previous correction. Once IREN broke above that line, it started building higher lows and reclaimed several key moving averages. A volume-confirmed support zone near $33 served as a launching pad, helping the stock accelerate toward the mid-$50s. Rising candles and strengthening momentum suggest the correction has likely run its course, at least for now.
⬤ Technically, the chart points to a shift from selling pressure to accumulation. The rounded bottom pattern that formed near the December lows, paired with heavier volume on up days, signals genuine buying interest rather than just fleeting price pops. The stock's projected 2026 AI cloud revenue of roughly $3.4 billion has helped spark renewed attention alongside the improving chart setup.
⬤ This recovery matters because it shows demand returning to AI infrastructure plays after a volatile stretch. IREN has now carved out new reference points, with old resistance areas potentially flipping to support. If current levels stick, the technical picture suggests the $75–$80 range could be next in line. Even if the stock consolidates here, the sharp turnaround demonstrates how fast sentiment can flip once selling exhausts itself and trend confirmation kicks in.
Saad Ullah
