JPMorgan Indicates Bitcoin Miners Are Entering a 'Stronger Confidence Phase': Here Are Their Price Projections
JPMorgan Upgrades for Cipher and CleanSpark: Cipher Mining and CleanSpark received upgrades to Overweight from JPMorgan, with Cipher's price target raised to $18 and CleanSpark's maintained at $14, reflecting their strong positions in high-power computing (HPC) transitions.
HPC Capacity Expectations: JPMorgan anticipates that miners will announce approximately 1.7 gigawatts of additional critical-IT capacity by late 2026, highlighting the sector's ability to convert power assets into long-term HPC revenue.
Target Adjustments for IREN, MARA, and Riot: IREN's price target was increased to $39, but its rating remains Underweight. Conversely, MARA and Riot saw their targets cut to $13 and $17, respectively, due to falling Bitcoin prices and increased share dilution.
Market Performance and Technical Analysis: CleanSpark and Cipher Mining showed positive price movements, with CleanSpark trading near $11.15 and Cipher at $16.77, indicating strong buyer interest and potential for further gains if they maintain momentum above key resistance levels.
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Technical Analysis for
Technical Sentiment Analysis for () As of , () is exhibiting a Neutral technical sentiment. Our proprietary analysis, which aggregates 0 technical signals, shows that 0 indicators are flashing buy, while 0 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
() Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | - | - | - | - | - | - | - |
| Fibonacci | - | - | - | - | - | - | - |
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