IREN's recent bounce from its lows looks promising. Some traders believe the bottom might finally be in place. Over the last 3 trading days, price has held above the 10-period EMA, which is encouraging. But here's the catch—every single one of those days saw price rejected at the 20-period EMA and the 20-period SMA, creating a consistent resistance pattern. This back-and-forth between support and resistance tells an interesting story about market indecision at current levels. Watching how IREN handles this zone will be key to confirming whether this recovery has real legs or if sellers have more ammunition left.