Saad Ullah
⬤ IREN Limited shares caught a bid right at the $52 trend support zone Friday, bouncing off a level that's been quietly doing the heavy lifting during recent pullbacks. The stock closed higher after testing this area, showing that buyers are still willing to step in when price dips to this key technical floor.
⬤ The chart tells a straightforward story: IREN hit that lower support band near $52 and reversed course. It's a zone that's worked multiple times recently, acting as a reliable backstop during the consolidation phase. The bounce was decent but nothing explosive—price lifted off support but didn't break through any meaningful resistance overhead, leaving the near-term picture still foggy.
⬤ Here's where things get interesting: weekend Bitcoin movement could throw a curveball into Monday's open. While Friday's bounce shows support is holding for now, broader crypto sentiment might shift over the weekend, potentially setting up a gap lower when markets reopen. That means the $52 level isn't just interesting—it's critical.
⬤ Bottom line: $52 is the line in the sand. Hold above it and the trend structure stays intact. Break below it decisively and IREN could be looking at deeper losses. With uncertainty running high, how the stock behaves around this support zone will likely drive the action in coming sessions.
Saad Ullah
