IREN Weekly Technical Analysis
Iris Energy Ltd
Bitcoin miner focusing on renewable energy-powered operations.
IREN Technical Analysis Summary
IREN is currently undergoing a deep correction following a massive multi-month parabolic run. Short-term momentum is firmly bearish, characterized by a series of lower highs, falling RSI, and negative MACD trajectory. However, the long-term bullish thesis remains intact as long as the vital support zone near $30, which aligns with the rising 50-week SMA, continues to hold.
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IREN Weekly Chart
Sentiment
Short-term Sentiment (days to weeks): Bearish
Price is trading below the 20-week SMA, RSI has fallen below 50, and MACD shows a bearish crossover with expanding negative histogram, indicating strong downward momentum in the short to medium term.
Long-term Sentiment (weeks to months): Bullish
Despite the severe recent pullback, the macro structure remains bullish as price is still well above the rising 50-week and 200-week SMAs. The current action appears as a deep correction following a massive parabolic advance.
Report Metadata
- Timeframe: weekly
- Generated at: 2026-02-21T18:37:17.441Z
- Model: gemini-3.1-pro-preview
Support Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $30.00 | $28.00 - $32.00 | Strong | Critical support zone based on recent swing lows and confluence with the rising 50-week SMA. A break below here would damage the long-term trend. |
| $18.00 | $16.00 - $20.00 | Strong | Major prior consolidation zone before the explosive breakout. |
Resistance Price Levels
| Level | Range | Strength | Notes |
|---|---|---|---|
| $50.00 | $48.00 - $52.00 | Strong | Immediate resistance area around the declining 20-week SMA and recent minor lower highs. |
| $66.00 | $64.00 - $68.00 | Strong | Major recent lower high formed after bouncing from the 50-week SMA. |
| $76.00 | $74.00 - $78.00 | Strong | Macro cycle peak; absolute top. |
Potential Chart Patterns in Formation
| Strength | Pattern | Signal | Target | Details |
|---|---|---|---|---|
| Strong | Lower High Formation | Bearish | $30.00 | After peaking near $76 and bouncing off $30 support, the subsequent rally failed at $64, establishing a significant lower high and signaling a shift toward near-term bearish momentum. |
Frequently Asked Questions about IREN
What is the current sentiment for IREN?
The short-term sentiment for IREN is currently Bearish because Price is trading below the 20-week SMA, RSI has fallen below 50, and MACD shows a bearish crossover with expanding negative histogram, indicating strong downward momentum in the short to medium term.. The long-term trend is classified as Bullish.
What are the key support levels for IREN?
StockDips.AI has identified key support levels for IREN at $30.00 and $18.00. These levels may represent potential accumulation zones where buying interest could emerge.
Is IREN in a significant dip or a Value Dip right now?
IREN has a Value Score of 100/100. It is not currently flagged as a significant dip in the Top Dips list. It is not listed as a Value Dip because the long-term sentiment or value-score threshold does not qualify.
View the full interactive analysis on StockDips.AI.