IREN Stock Price Risky Pattern Points to 60% Dive to $20
IREN stock price has pulled back and entered a bear market in the past few weeks despite publishing strong financial results. It dropped to a low of $49, down by 35% from the year-to-date high of $76. It has also formed a risky pattern pointing to more downside in the near term.
IREN Stock Price Technicals Point to a Crash
The daily timeframe chart shows that the IREN share price has been in a steep freefall, mirroring the performance of other companies in the industry like Core Scientific, CoreWeave, and Nebius.
A closer look shows that the IREN share price has formed a double-top pattern at $74 and a neckline at $48.34. This pattern often leads to a strong bearish breakout as it signals that…
