IREN Limited (IREN) is setting up for a potential breakout, with the price holding above key support at $11.80 and strong bullish signals on both the daily and hourly charts. Bollinger Bands are tightening on the daily, hinting at an explosive move, while volume spikes and EMA alignment on the hourly suggest upward momentum. Watch for a breakout above $12, with targets at $12.38 and $13.50.