Cipher Digital Inc (NASDAQ:CIFR) shares are jumping on Thursday despite the broader market trading with a more cautious tone.
- Cipher Digital stock is among today’s top performers. Why is CIFR stock surging?
The Trend Is Up, But The Distance From The Averages Cuts Both Ways
On a longer timeframe, Cipher still looks firmly bullish. The stock is trading 7.1% above its 20‑day SMA at $19.44, 22.2% above its 50‑day SMA at $17.03 and 35.5% above its 200‑day SMA at $15.36. That kind of separation usually signals a strong uptrend, but it can also work against traders if momentum cools and crowded entries start unwinding at the same time.
Structurally, the trend remains constructive. The 20‑day SMA sits above the 50‑day SMA, and the golden cross that formed in July 2025 when the 50‑day SMA moved above the 200‑day SMA continues to support the longer‑term bias. The last major upside shift also aligned with the breakout above resistance in November 2025, which eventually led to the stock's 52‑week high later that month.
The market has already shown it is willing to revalue the name when the setup turns, which is why traders keep one eye on the trend and the other on where the next stall might appear.
For now, the near‑term ceiling is clear. Key resistance sits at $22.50, a level where rebounds can pause before any attempt to revisit the 52‑week high zone. Momentum is the more interesting tell.
RSI Says Orderly, Not Euphoric
RSI is sitting at 52.51, which is neutral. That matters because it shows Cipher is strong without being stretched. The stock is elevated relative to its moving averages, but it is not flashing the kind of overheated reading that forces traders to fade every uptick. For trend followers, that combination often marks the sweet spot: enough strength to keep buyers engaged, but not so much froth that the move becomes fragile.
Why Cipher Rallied Earlier This Week
Cipher spent the previous session climbing after a run of upbeat analyst calls and growing interest in its high-performance computing and AI data center strategy. Morgan Stanley boosted its price target from $40.50 to $42.50 while keeping an overweight rating. Needham raised its target from $22 to $25, and Jefferies began coverage with a buy rating and a $32 target
The company has also been highlighting progress on that front. In its May update, Cipher said it secured a third AI data center campus lease with an investment grade hyperscale tenant. The firm now has 907 megawatts of operating and contracted capacity and a roughly 3.3 gigawatt pipeline, including 700 megawatts tied to high performance computing contracts worth more than $11.4 billion in committed revenue.
Rising short interest added another layer of momentum, with 16.69% of the float sold short and 2.39 days to cover, creating conditions where rallies can accelerate quickly.
CIFR Shares Are Soaring
CIFR Price Action: Cipher shares were up 9.09% at $21.26 at the time of publication on Thursday, according to Benzinga Pro.
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