Circle Internet Group shares rose to around 9.3 % on Monday, closing near $204.70, as investors reacted positively to growing momentum around stablecoin regulation in Washington. The gain reflects anticipation surrounding the House vote on the GENIUS Act, a key bill under discussion during the “Crypto Week”.
Circle is one of the firms at the forefront in the stablecoin landscape, with its USDC being one of the largest stablecoin. Its stock, under ticker CRCL, went public just last month. And today, it has shown a high buying power, moving from around $187, and currently sits around $204.
Recently, the shares also touched intraday highs between $204.90 and $206, before pulling back slightly. Now, the stock seems to be aiming at breaking the intraday high with high buying momentum showing on its chart.
Technical charts reveal rising bullish sentiment. A strong support zone formed around $177–$182, tested on July 2 and again on July 11. Monday’s move produced a bullish engulfing pattern following a hammer‑style rebound from the $182.50 low, indicating rejection of lower prices. Resistance remains firm near $205–$210, marked by highs from July 10 and 11.
Short‑term momentum is underpinned by the five‑day simple moving average rising to $200.08 and crossing above the 20‑day SMA at $195.04. The share price trading above both suggests the continuation of recent strength. Should price stay above the five‑day SMA, bullish conditions may persist; a fall below could shift bias toward consolidation or pullback to the 20‑day SMA.
In a regulatory filing, Circle stated that USDC has been used for more than $25 trillion in on-chain transactions since its launch in 2018.
Amid Crypto Week, Circle’s stock has started gaining due to optimism around the expected passage of the GENIUS Act. This Act aims to set a clear federal framework for stablecoins. If passed,it would benefit stablecoins, like Circle’s USDC, by boosting institutional confidence and attracting more investors to the ecosystem.
We can expect further upward movement in the coming days, all things being equal. However, some investors may choose to take profits, which could temporarily pull the price down.
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