$IREN sitting right on the volume shelf and rising trendline — classic textbook support stack.
Current: $41.74
Target: $45.00 by 10/2
Here's the structure:
$40 is your floor. That's where volume built the foundation. As long as price holds above it, you've got structural support.
The rising trendline adds dynamic support underneath. When price sits on both volume shelf and trendline, you've got confluence — two reasons for buyers to defend.
If $40 holds, $45 is the first logical resistance. That's your first stop.
Invalidation is simple: break below $40 and the setup is dead. Volume shelf broken = no foundation.
Clean setup. Two-layer support. Clear target. Clear invalidation. That's how you read structure.
Current: $41.74
Target: $45.00 by 10/2
Here's the structure:
$40 is your floor. That's where volume built the foundation. As long as price holds above it, you've got structural support.
The rising trendline adds dynamic support underneath. When price sits on both volume shelf and trendline, you've got confluence — two reasons for buyers to defend.
If $40 holds, $45 is the first logical resistance. That's your first stop.
Invalidation is simple: break below $40 and the setup is dead. Volume shelf broken = no foundation.
Clean setup. Two-layer support. Clear target. Clear invalidation. That's how you read structure.
