Regarding $CRCL 's upcoming outlook

Circle is mainly being driven by sentiment in the short term, with the trigger being the lawsuit related to the Drift Protocol hack incident, plus market concerns about profitability. These factors stacking up have caused the price to show some weakness.
But the underlying data isn't bad; the issuance of USDC is actually increasing, and with the earnings report scheduled before May 11, the fundamental and market expectations are in a tug-of-war.
From a technical perspective, the trend can be split into two phases:
The first from 49.9 to 136.64 is a complete upward wave, and this current segment is just digesting that rally.
The key point is the nature of this rebound. The move from 84.26 is merely a technical rebound, not the start of a new upward cycle. Therefore, a further correction of similar magnitude is needed before the entire adjustment is complete.
Only after this correction is fully played out can there be the conditions to initiate another rally comparable to the previous increase.
The rhythm is also quite clear: this isn't a quick in-and-out move, but rather a slow, gradual digestion of positions. So, from a time perspective, it’s more likely that a clear bottom will form gradually around the US midterm elections.