Cipher Mining Inc. CIFR just sank to a fresh 52-week low of $2.55, extending its brutal downtrend.

The stock has plunged 51.50% in the past year, 46.48% year to date, and nearly 35% in just the past month. With relentless selling pressure, technical indicators are flashing warnings: is this rock-bottom — or is more downside ahead?

Chart created using Benzinga Pro

Cipher Mining Stock Chart: Bears In Control

Cipher Mining stock chart looks like a one-way ticket south. The stock is trading below every major moving average, reinforcing a strongly bearish trend:

• Eight-day simple moving average at $2.99 (bearish)
• 20-day simple moving average at $3.35 (bearish)
• 50-day simple moving average at $4.59 (bearish)
• 200-day simple moving average at $4.83 (bearish)

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The Moving Average Convergence Divergence (MACD) indicator is sitting at a negative 0.53, further confirming downward momentum. Meanwhile, the Relative Strength Index (RSI) of 31.94 signals that Cipher Mining stock is approaching oversold territory — but that alone isn't enough to call for a rebound.

Investor Implications: Catching A Falling Knife?

With Cipher Mining stock breaking through key support levels, the risk of further downside remains high. A short-term bounce is possible given the nearly oversold RSI, but any meaningful recovery would require Cipher Mining stock to reclaim at least its 20-day moving average of $3.40 to hint at a shift in momentum.

Until then, the stock remains under heavy bearish pressure, and investors eyeing an entry may want to wait for signs of stabilization.

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