Circle (CRCL) stock price rose nearly 5% on Friday to $66.14 after US regulators approved its national trust bank. Yet the stock still sits down about 20% this year, and its chart points lower.
The banking win gave buyers a reason to step in. However, a broken chart pattern, steady outflows, and rising stablecoin competition suggest the rally may not hold.
A Confirmed Bearish Pattern Keeps Stock Under Pressure
Circle stock formed a head-and-shoulders pattern between April and June. The stock broke below the pattern’s support line in late June. Since then, it has failed to reclaim that lost ground.
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