Usman Salis
⬤ IREN stock is pushing higher after successfully holding key technical support around the mid-$50 range. The recent pullback turned into a buying opportunity as the stock back-tested its bull market support band and managed to close above the 20-day simple moving average. The daily chart shows price stabilizing and finding solid footing after the dip.
⬤ What's interesting here is how clean the bounce looks. After dropping to test lower levels, IREN recovered and is now trading comfortably in the mid-$50s with candles closing above that 20 SMA. The bull market support band held up perfectly, doing exactly what it's supposed to do. This wasn't a breakdown—it was more like a healthy reset that shook out weak hands before continuing higher.
⬤ The technical setup looks solid for upside continuation. With the stock reclaiming short-term moving average support and holding that support band, the path of least resistance points up. If this structure stays intact, smart money is eyeing a potential move toward the $96 area. That's the level where this could get really interesting if momentum keeps building.
⬤ IREN is breaking out of consolidation and getting back into trend-following mode. Holding above these support levels is keeping bulls in control and reinforcing positive sentiment. How the stock performs from here—especially if it can maintain these gains—will determine whether we see that follow-through toward higher targets in the coming sessions.
Usman Salis
