Circle (CRCL), Galaxy Digital (GLXY), and Core Scientific (CORZ), including U.S. cryptocurrency stocks, are showing mixed trends in response to recent market events.
CRCL showed a significant rise with its historic listing, while GLXY is declining despite strong analyst optimism. Meanwhile, CORZ has demonstrated a strong upward trend, supported by positive analyst evaluations.
Circle Internet Group (CRCL)
Circle (CRCL) is the issuer of USDC stablecoin and has set a historic milestone by becoming the first stablecoin company listed on the New York Stock Exchange.
Listed at $31 per share, CRCL recorded an explosive rise of over 200% on its first day, reaching $100. Although it started with a decline of over 5% today, it is currently trading at around $109.
This initial public offering (IPO) successfully raised $1.1 billion, valuing the company at $6.9 billion and demonstrating strong investor confidence. CEO Jeremy Allaire emphasized that this listing plays a crucial role in Circle's continued mission for global financial innovation.
Following this significant IPO, major players in the investment world quickly responded. ProShares and Bitwise have already submitted proposals to the SEC to create new exchange-traded funds (ETFs) to track Circle's stock performance, further demonstrating market interest in this newly listed company.
For CRCL's immediate price path, a critical support level is at $106. If this level breaks, the stock price could fall to $76.
Conversely, if CRCL can re-establish its upward trend, it could challenge the resistance at $123, and if successfully broken, the price could rise to $138.
Galaxy Digital (GLXY)
Galaxy Digital (GLXY) is currently experiencing a downturn, declining by about 2% today and nearly 13% since its Nasdaq listing. Despite this recent performance, market analysts remain highly optimistic about the company.
The one-year forecast consensus from 9 analysts anticipates an average increase of 36.23% for GLXY, with a target price set at $27.85.
Notably, all 9 analysts have assigned a "strong buy" rating, reflecting strong confidence in the company's future growth potential.
GLXY has encountered an obstacle in not breaking through the resistance level of $21.2. If the stock price retests this resistance and successfully breaks through, it could pave the way to rise to $24.99.
Conversely, if the current correction continues, GLXY may test the support level of $18.96.
Failure to maintain this support could lead to further decline, with the price potentially dropping to $17.99.
Core Scientific (CORZ)
Core Scientific (CORZ) has recently demonstrated significant upward momentum. It has risen by over 35% in the past 30 days and more than 7% in the past 5 days.
This strong performance is accompanied by substantial optimism from financial analysts. The one-year forecast consensus from 17 analysts anticipates an impressive average increase of 44.55% for CORZ, with a target price set at $18.21.
Moreover, 17 out of 18 analysts have assigned "strong buy" or "buy" ratings, indicating widespread confidence in the company's prospects.
CORZ is currently trading near a major resistance level of $13.18. If this resistance is successfully broken, the stock price could rise to $16.63.
Conversely, if the support level of $11.33 is tested and not maintained, CORZ could experience a significant decline, potentially dropping to $9.45. In a more severe downturn, the stock price could fall to $7.99.
