IREN Trading Setup - Establishing Higher Lows

IREN is currently consolidating around key support, with $37.42 marking a critical level at the Fibonacci confluence zone. The setup suggests strength as long as buyers defend this floor. A decisive break above $44.44 would flip sentiment and open the door for meaningful upside movement.

For those tracking this, the first major target sits at $51.45—aligned with the 0.618 Fibonacci extension. This level represents a natural resistance where profit-taking and fresh selling might emerge. Watch the price action carefully here; it'll tell you whether momentum can sustain or if consolidation returns. The structure looks clean so far—higher lows building incrementally. Keep an eye on volume confirmation at these inflection points.