IREN: Recovery Setup | Watching the 200 EMA ReclaimIREN LimitedNASDAQ:IRENLithuanian_traderIREN is back on my watchlist after bouncing from its recent lows. The stock is still trading below the 4H 200 EMA, so Iām not treating this as a confirmed breakout yet. Iām watching to see whether buyers can continue pushing price through the resistance levels above. š¢ Upside levels: $40.00 ā first resistance / reclaim area $42.50 ā major resistance + 200 EMA $46.00 ā major resistance / August highs š“ Support levels: $35.00 ā first support / recent bounce area $34.00 ā key support / multiple reactions $30.00 ā major support / prior reversal zone The level that interests me most is $42.50. The 200 EMA is currently sitting almost directly at this level, making it an important area for the bulls to reclaim. From around $37, a move toward the 200 EMA represents roughly 15% upside, while a move back toward $46 would be approximately 24%. For now, $40 is the first test. A break and hold above it would have me watching $42.50 next. If momentum fails, I'll be watching the red levels below for potential reactions. š Levels are areas of interest, not automatic entries. My personal technical analysis only ā not financial advice