IREN has carved out an interesting technical setup worth watching. The token's already up 34% year-to-date, and there's building momentum that suggests more upside could be coming. You're looking at a symmetrical recovery pattern forming here, with the volume shelf acting as a launchpad. The price action feels like it's got legs.

Here's what catches the eye: near-term, there's a $62 target sitting on the table. Support holding around $47 is solid enough—that's your line in the sand if things turn choppy.

What's fueling the bullish case? A couple of things stand out. The GPU fleet scaling play for HPC (high-performance computing) is a real catalyst. Then there's the Bitcoin angle—it's providing that hedge function you want to see, adding some structural support to the broader narrative.

Momentum's picking up steam. If this breaks higher off current levels with conviction, $62 becomes very achievable. Worth keeping on the radar.