CLSK Could Soar to $50 Backed by Strong Gann Angle Analysis

• CleanSpark’s price rebound confirms its strong support levels and bullish potential.  
• The stock targets $50 as it gains momentum, breaking key resistance points.  
• Its market outlook depends on Bitcoin’s performance and broader trends.  

CleanSpark Inc. ($CLSK), a prominent player in Bitcoin mining, is currently trading at $10.80, marking a 10.43% surge in just one session. The stock recently demonstrated a pivotal technical event—a perfect backtest of the 45-degree Gann angle, a critical indicator in price-time equilibrium analysis.  

This rebound, paired with its bullish market structure, has rekindled optimism among traders eyeing the elusive $50 mark.

A Technical Breakdown: Gann and Market Dynamics

The weekly chart presented in Mattsby’s analysis leverages Gann angles—a key tool in technical analysis that maps price and time symmetry. The 45-degree angle, considered a critical support level, has held firmly, affirming the stock’s bullish trajectory. Notably, $CLSK recently performed a “perfect backtest,” bouncing off the angle and resuming its upward momentum.

Mattsby highlights the market structure as a pivotal factor, noting that “fear in a bullish setup won’t make money.” This statement reflects the growing consensus among technical traders: the stock’s ability to maintain its position above Gann support signals a continuation of its bullish trend. 

As of January 4, 2025, $CLSK has surged by 10.43%, with its price climbing from $9.02 to $10.80. This performance aligns with Mattsby’s forecast, bolstered by the chart’s ascending arcs, which indicate potential resistance levels on its journey to $50.

Key Levels to Watch: Path to $50

The Gann analysis also delineates the trajectory $CLSK might take toward the coveted $50 mark. The next key resistance lies in the $21-$25 range, represented by the overlapping green arcs. Once these hurdles are cleared, the stock could encounter additional challenges near $36, before finally reaching the $50 target.

Mattsby’s call for $CLSK to reach $50 hinges on broader market factors as well. A follower astutely noted that “BTC needs to trade above $200K in order for $CLSK to be trading at $50.” This comment ties $CLSK’s valuation to Bitcoin’s performance, emphasizing the interconnectedness of cryptocurrency mining stocks with broader digital asset trends.

A Dash of Perspective

The Great Mattsby isn’t shy about expressing confidence in $CLSK. “People that fear support in a bullish market structure won’t make $$,” he tweeted, cementing his bullish stance. While the perfect backtest lends credibility to his analysis, it’s worth remembering that technical analysis, no matter how compelling, isn’t foolproof.

For now, Mattsby’s analysis paints an optimistic picture for CleanSpark. With a strong base at $10.80 and a clear roadmap to $50, $CLSK could be a sleeper stock poised for explosive growth. However, whether the stock fulfills this promise or falls short remains to be seen.

Will $CLSK defy the skeptics and touch $50, or will unforeseen market forces temper its ascent? Only time—and the Gann angles—will tell.