We're excited about NASDAQ:WULF's prospects among other crypto miners, standing out with its eco-friendly operations, profitability post-halving, and strategy to reduce debt without diluting shareholder value through ATM usage. The company's CEO has reassured investors of this commitment. Moreover, a significant short interest in NASDAQ:WULF could potentially propel its value dramatically.
Currently, the price is at a crucial juncture, testing the hourly support. Should it break below, it might move to test the daily support level. Conversely, rebounding from the hourly support could set the stage for a climb towards the monthly resistance.
Our initial milestone is overcoming the monthly resistance at around $3.70. Surpassing this, we aim for $8 followed by $17 as our subsequent targets.
This outlook would be reconsidered if the hourly or daily indicators fall beneath the weekly, suggesting a need to reassess our stance.
Stay tuned for updates, and best of luck to us all!
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Quick NASDAQ:WULF update: As of March 2024, they achieved a self-mined total of 379 bitcoins with an average daily production rate of 12.2 bitcoins. Their installed hash rate increased to 8 EH/s due to upgrading older miners with S19k Pro miners, highlighting a strategic shift towards more efficient mining operations. They anticipate further enhancements with the expected delivery of additional miners, aiming for a total operational capacity of approximately 10 EH/s by mid-2024. TeraWulf’s approach is heavily oriented towards sustainability and efficiency improvements, with efforts in demand response programs and potential expansions into high-performance computing projects.
Technicals:
Cryptocurrency-related stocks didn't perform too well today. We're eyeing $2.44 as the key level for a bullish trend; surpassing this could continue the uptrend. However, should the price not break through $2.44 and instead drop, we anticipate finding support at $2.18.