Popular Analyst Predicts Circle Stock Risks Falling Despite UAE License, Bybit Partnership
The post Popular Analyst Predicts Circle Stock Risks Falling Despite UAE License, Bybit Partnership appeared on BitcoinEthereumNews.com.
Key Insights: Circle stock risks falling as a key technical indicator flashes a sell signal. CRCL stock wavers near $87 as traders digest US jobs data ahead of FOMC meeting Circle receives money services provider license in the UAE and plans USDCx stablecoin launch. Baird Capital set a $110 price target for CRCL stock following the Bybit partnership. Circle stock risks falling despite positive developments, including winning a money services provider license in the UAE and a partnership with Bybit, as per an analyst. CRCL stock opened 1.60% lower but bounced higher after the US jobs data on Tuesday. The heightened uncertainty ahead of the FOMC meeting has turned investors cautious. Circle Stock Flashes Sell Signal, Analyst Says Popular analyst Ali Martinez shared a bearish outlook for Circle stock. He highlighted that the TD Sequential indicator on the daily chart has flashed a sell signal, after correctly predicting the recent local bottom. He predicted further downside despite Circle Internet’s positive developments to boost USDC adoption. At the time of writing, Circle stock was trading 4% higher at $87.67. Circle Stock in Daily Timeframe | Source: Ali Martinez Notably, Circle stock closed 1.94% lower at $83.96 on Monday, as investors booked profits. Year-to-date, Circle share has shed more than 27%, erasing all gains accumulated earlier this year. The decline follows a wave of heavy selling by investors spooked by persistent volatility and uncertainty in the crypto market. Investors are closely monitoring upcoming macroeconomic cues before making their next moves in CRCL stock. Circle Internet Receives Money Services Provider License in the UAE Circle expands its regulatory footprint in the UAE, receiving Financial Services Permission (FSP) license to operate as a money services provider. USDC stablecoin plans to expand regulated payments and settlements for institutions in the UAE. This milestone follows the…
