Cipher Mining (NASDAQ: CIFR) continues to display a constructive technical setup as the stock pushes toward fresh multi-month highs near the $29 level. The daily chart highlights a strong uptrend characterized by higher highs, higher lows, bullish moving average alignment, and a successful breakout from a prolonged consolidation phase. With momentum improving and key resistance levels being challenged, CIFR remains one of the stronger-performing names within the Bitcoin mining sector.

The stock spent much of late 2025 and early 2026 consolidating between approximately $14 and $19 after a powerful rally in the second half of 2025. This sideways trading phase allowed the market to absorb previous gains while building a new base of support. Such consolidation periods are often viewed positively by technical traders because they can create the foundation for the next leg higher.

A notable feature of the chart is the Fibonacci extension framework drawn from the recent swing low near $11.50. CIFR has steadily advanced through multiple Fibonacci resistance levels, including the 0.382, 0.50, and 0.618 retracement zones. The stock recently moved above the 0.786 extension level near $25 and is now approaching the 1.0 extension target around $28.70–$29.00. A decisive breakout above this level could open the door toward the higher extension targets near $33 and beyond.

The moving averages strongly support the bullish outlook. The 20-day EMA is trading above the 50-day EMA, while both remain above the 100-day and 200-day EMAs. This bullish stack confirms that short-, intermediate-, and long-term trends are aligned in favor of buyers. Furthermore, the recent rally has been accompanied by the stock maintaining support above the rising 20-day EMA, indicating that dip buyers continue to step in during pullbacks.

Momentum indicators also suggest strengthening bullish conditions. The Relative Strength Index (RSI-14) is currently near 67, approaching but not yet reaching the overbought threshold of 70. This is an encouraging signal because it indicates strong buying momentum without the excessive overheating often associated with parabolic advances. The RSI has also crossed above its moving average, further confirming improving momentum.

From a support perspective, the first major level lies around $24–$25, which corresponds to the recent breakout zone and the rising 20-day EMA. Additional support can be found near $21–$22, where the 50-day EMA and prior consolidation highs converge.

Overall, CIFR's technical structure remains firmly bullish. The combination of a successful breakout, positive EMA alignment, improving RSI momentum, and sustained trend strength suggests the stock is well-positioned to challenge and potentially exceed its recent highs. Traders will be watching closely for a confirmed breakout above the $29 resistance area, which could signal the beginning of the next upward leg in the trend.