The analysis of Iris Energy (IREN) indicates several buy signals from short and long-term moving averages, suggesting a generally positive outlook. However, due to some weaknesses the stock is being downgraded to a hold candidate. A strong upward trend in the short term positions the stock in the upper range, which could present a selling opportunity for short-term traders. A breakout above $23.65 may signal a stronger rate of increase. A three-month trend projects a potential change of 113.15%, but the performance could swing from -52.14% to 23.75% over the next year. The first support level is $18.59.