Trading King

07/09 08:22

Circle’s CRCL rebounds 14% – what’s driving

Circle’s CRCL rebounds 14% – what’s driving the recovery?

Wall Street analysts may be bullish on CRCL, but JPMorgan thinks otherwise.

CRCL stock has been enjoying a “hold” rating based on recent Wall Street analysts’ forecasts after a 14% gain in July. However, JPMorgan still expects the stock to fall to $80 by 2026.

Circle’s CRCL stock has rebounded after a 42% correction since the end of June. The drop from $298.99 to $171.50 came after updates from several rival stablecoin issuers and some bearish forecasts.

However, in July, the stock seems to have shaken off the bearish sentiment. In fact, it has since gained 14% on the monthly chart.   

CRCL’s move also mirrors the overall stock market rebound, with the S&P 500 (SPX) hitting new all-time highs.

 However, for CRCL, its recovery appears to outweigh the overall bullish sentiment across the stock market sector. 

#Join HTX On A Fitness Journey To Mars#Share BTC or ETH Futures Trades#Claim1,200 USDT in the Monthly Creation Challenge#Do you think BULLA is promising?#Do you think RESOLV is promising?

5Share