Eseandre Mordi
⬤ IREN Limited shares pushed higher after breaking back above the 50-day moving average—a significant technical signal on the daily chart. Once that moving average was cleared, analysts flagged $54 as the next important price level to watch.
⬤ The chart shows IREN bouncing from a recent low in the mid-$30s before climbing back toward the upper-$40s. The 50-day moving average, sitting around $48, had acted as resistance during the pullback. Now price has broken through that barrier, with the latest move bringing IREN into the $47 range. That signals improving short-term momentum, though the stock hasn't reached the next resistance zone yet.
⬤ Technical markers on the chart identify several Fibonacci reference points that map out the current move. The $54 area lines up with a highlighted extension level, making it the next clear upside target following the 50-day moving average breakout. On the downside, support levels sit near the high-$30s and upper-$20s—zones where price previously found buyers during the earlier correction.
⬤ Reclaiming a key moving average often shifts trader attention toward higher resistance levels. The chart lays out a clear structure with $54 as the next technical objective. How IREN performs as it approaches that level could shape near-term momentum and influence how the market views this recovery phase.
Eseandre Mordi
