CLSK Stock Surged 14.50% Weekly; Approaching to Retest $6

CLSK stock price surged over 163.18% in the YTD time frame. On January 03, CleanSpark Inc. stock was trading below $3 and a nominal spike was seen in the first week of February 2023. At the time of publishing, CLSK’s share price was trading at $5.29 with an intraday trading volume of 9.573 Million.   

CLSK Price Analysis & Prediction 

On August 29, a major surge in trading volume was noticed which indicates that some giant investors have injected a significant amount of capital into purchasing CLSK stock. CleanSpark has a market capitalization of $807.483 Million and its share average trading volume is 10.928 Million. 

CLSK Stock Surged 14.50% Weekly; Approaching to Retest $6
Source: CLSK stock price chart from TradingView 

CLSK stock is constantly showing positive signals as it surged over 14.50% in a week and a sharp upward movement of 21.89% was seen in a quarter. CLSK has an annual price target of $11.25 which is around 112.67% greater than the stock’s current trading price. 

At press time, CleanSpark stock was trading above 100 & 200-day exponential moving averages and parallel to 20 & 50-day EMA. The MACD indicator is likely to suggest a bearish crossover showing extreme negativity. Moreover, the signal line is close to the MA line indicating that buyers are trying to retain the momentum but sellers seem more powerful. 

The 52-week trading range of CLSK lies between $1.74 and $7.60, The RSI is parallel to neutrality and the signal line is showing a surging momentum. A bounce to retest the trendline toward 50 is expected. 

CleanSpark, Inc. is a Bitcoin mining and energy technology company that engages in the provision of solutions to modern energy challenges, advanced energy software, and control technology.

CleanSpark Financial Updates 2023

CleanSpark recently released its third-quarter revenue in which it was expected to report $45.70 Million and it reported $45.52 Million from which its net income was -14.22 Million and its profit margin was -31.23%. 

The estimated EPS of the company was negative 0.17 but it impressed the investors and reported negative 0.12. In the last quarter of 2023, the company is expected to report $57.24 Million. 

In the financial year 2022, the company reported $141.50 Million in revenue from which its net income was -57.33 Million, and the profit margin of the company was -43.59%.  

Technical Levels 

Major Support:$4.47 and $4.11 

Major Resistance: $6.25 and $6.77 


CleanSpark, Inc. is a Bitcoin mining and energy technology company, which was one of the fastest developing companies during the discovery of crypto and Bitcoin mining. At the time of writing, CLSK stock was at $5.29, and there are chances that in the August 31 trading session, it might open a few more percent above the previous closing. As per market analysts, CLSK stock might continue to surge as it has shown continuous profitability since the start of August. 


The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss. 

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