CleanSpark shares dip amid rising selling pressure

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Cleanspark slides 4.13% today to $15.31

Highlights

Meta Platforms is in talks to lease data center space from CleanSpark, signaling potential new infrastructure demand.
CleanSpark's share price continues to face selling pressure, despite no additional corporate developments announced.
Technicals show short-term bearish momentum but a medium-term bullish structure, with price likely to consolidate between $14.01 and $17.26.

Meta lease talks surface while CleanSpark faces ongoing selling

On June 6, it was reported that Meta Platforms entered discussions with CleanSpark to potentially lease space at its data center facility. The possible agreement would see Meta Platforms utilize CleanSpark's infrastructure resources, as noted by Green Street News Infrastructure. No additional CleanSpark corporate actions were reported, though price action has remained under broader selling pressure.

Anton Kharitonov, expert at Traders Union, sees short-term selling pressure weighing on CleanSpark despite medium- and long-term technical support. He notes the bearish gap, weak intraday performance, and volatility as evidence of risk dominance. Kharitonov warns that signals like oversold Stochastic RSI and neutral oscillators fail to confirm a turnaround. He is skeptical of the Meta Platforms news, as its effect has not offset the negative sentiment or price trend. "Unless CleanSpark decisively holds above key support, I see little justification for bullish positioning at this stage," he states.

Viktoras Karapetjanc, expert at Traders Union, remains constructive despite short-term weakness. He believes that the underlying bullish structure is intact — CleanSpark holds firm above its 50- and 200-day moving averages. Karapetjanc highlights the Meta Platforms engagement as a key sign of major institutional interest. He expects that positive momentum and strong buyer demand will support further upside. "I see CleanSpark well positioned for further growth, with market opportunities likely to accelerate above $17.26 if resistance breaks," he affirms.

Intraday volatility dominates with mixed technical momentum signals

CleanSpark is trading below its 20-day moving average ($15.98) but remains above both the 50-day ($13.25) and 200-day ($12.80) moving averages. This setup signals short-term pressure from sellers against a backdrop of medium- to long-term bullish structure, with dynamic support now near the 200-day moving average and resistance clustered around the Ichimoku Kijun level ($15.65).

Momentum signals are split: the Moving Average Convergence Divergence (MACD) shows strong buying and the Average Directional Index (ADX) indicates a continued uptrend, yet the Relative Strength Index (RSI) sits in neutral territory and the Stochastic RSI is oversold. Bull/Bear Power (BBP) readings above zero confirm that buyers still dominate intraday, though the overbought signal warns of waning strength. The Commodity Channel Index (CCI) and Awesome Oscillator are both neutral. The stock is under pressure, dropping 4.13% to $15.31 after opening with a downside gap of about $0.31 and trading predominantly in the lower part of its daily range. Intraday volatility stands at 8.65%. Overall, sellers have controlled the tone so far, outpacing early buying attempts.

Previously it was reported that CleanSpark faced persistent selling pressure despite ongoing business development discussions with major technology partners. The latest technical outlook, supported by a higher probability of an upward move, suggests traders should closely monitor the critical $14.01 support level as the market tests whether a positive momentum shift can take hold.

Source of Data: CLSK Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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