CRCL Market Analysis 2026.04.20 Circle's short-term market sentiment has been affected by class action lawsuits related to the Drift Protocol hacking incident and concerns about gross profit margins. But the USDC coin production has reached a new high in 2026, and more importantly, the Q1 financial report (May 11th) is about to be released. From a technical perspective, 49.9-136.64 is a wave of upward movement (represented by the black segment on the left side of the chart). The movement from 136.64 is a correction to the upward trend in that segment. If CRCL falls below the red line in the chart this week, it confirms that 84.26 is a wave of rebound (within the blue box). After the rebound ends, there must be at least one downward movement at the same level as 136.64-84.26 to complete the full adjustment. After the adjustment is completed, CRCL still has a period of upward movement at the same level as 49.9-136.64. The market is moving much slower than we imagined, and CRCL may find an adjustment endpoint in the third quarter of this year.