In our last update on Circle Internet Group, we expected the stock to complete a local top and begin a short-term correction. However, Circle proved our expectation wrong and continued its bullish momentum, creating a new local high at $103.28 — approximately 7% above the previous high.
Despite this unexpected move, we still identify the current price area as a potential local top. Our expectation remains that Circle will now enter a short-term corrective phase.
To identify the potential downside and define attractive entry levels, we have established a new Fibonacci retracement zone. With this update, we are adjusting the zone to reflect the newly established high at $103.28. As a result, the long entry levels within the zone have shifted slightly higher.
Long Entry Levels
- 61.8% Fibonacci: $75.22
- 78.6% Fibonacci: $67.58
- 88.7% Fibonacci: $62.99
This Fibonacci retracement zone represents an attractive opportunity to establish new positions in Circle or to accumulate the stock for the long term at significantly lower prices.
Our primary expectation remains that Circle will enter a short-term correction from the current local high. We will closely monitor the price structure and update our analysis if the market develops differently than expected.
If anything significant happens with this stock, we will update you immediately.
Kind regards,
Monalytics
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