Is the current price of $CRCLB expensive?
I don’t think so. Here’s why 👇🏻
🔶 News
About half a month ago, Binance invested $100 million in Circle at a 5% discount to CRCL’s market price at the time. In return, Binance agreed not to transfer the shares for two years.
A rough estimate puts the average purchase price at $80.84 per share, which has also made the area around $80 an important psychological support level.
Many investors think: if Binance was willing to buy at $80.84, why shouldn’t I consider it? That’s what’s bringing in buyers.
🔶 Price action
The latest rally went from $58 to a peak of $105. Since then, the price has pulled back by nearly 50%, landing right around the support near $80.
🔶 Technicals
The price quickly recovered after dipping below the EMA 100. Also, after the EMA 20 crossed below the EMA 50, the EMA 50 has continued to slope upward, and the EMA 20 is starting to turn back up—both are positive signs.
Now we just need to wait for volume to pick up and the EMA 20 to cross back above the EMA 50 to kick off the next rally.
Of course, if the price falls below the 100-day moving average, we’ll need to reassess. But based on the current chart, the area around $80 looks like a reasonably attractive entry point.
I don’t think so. Here’s why 👇🏻
🔶 News
About half a month ago, Binance invested $100 million in Circle at a 5% discount to CRCL’s market price at the time. In return, Binance agreed not to transfer the shares for two years.
A rough estimate puts the average purchase price at $80.84 per share, which has also made the area around $80 an important psychological support level.
Many investors think: if Binance was willing to buy at $80.84, why shouldn’t I consider it? That’s what’s bringing in buyers.
🔶 Price action
The latest rally went from $58 to a peak of $105. Since then, the price has pulled back by nearly 50%, landing right around the support near $80.
🔶 Technicals
The price quickly recovered after dipping below the EMA 100. Also, after the EMA 20 crossed below the EMA 50, the EMA 50 has continued to slope upward, and the EMA 20 is starting to turn back up—both are positive signs.
Now we just need to wait for volume to pick up and the EMA 20 to cross back above the EMA 50 to kick off the next rally.
Of course, if the price falls below the 100-day moving average, we’ll need to reassess. But based on the current chart, the area around $80 looks like a reasonably attractive entry point.