On April 30, we predicted in our article that the monthly-level correction for CRCL wasn’t over yet and would continue into Q3. 95 days after making this prediction, CRCL found support at 57.84, and the first wave of weekly-level growth in this cycle began. Circle reported Q2 revenue and reserve income of $701 million, with a net profit of $48 million. USDC circulation grew 19% year-over-year. Next, the focus will be on the Q3 earnings report on November 4. The market expects revenue of around $790 million. If USDC’s scale and profitability significantly outperform expectations, the correction could end directly, kicking off the next wave of weekly-level growth. On the other hand, if results fall short, the correction period may extend, but growth will still resume after the adjustment ends. In the long term, the potential of the Arc blockchain, stablecoin payments, and tokenized settlement of U.S. stocks remains significant, which is positive for CRCL’s mid-to-long-term development. Now, back to the technical structure: As shown in Figure 2, the blue segment represents the first wave of weekly-level growth. The red segment’s decline is a correction to that growth, which could be part of or the entirety of the weekly-level correction. If it’s only part of the correction, the rise starting from 75.27 is a rebound. The resistance level to watch is 86—breaking and holding above this level would suggest the rise from 75.27 is a strong rebound with further momentum. On the downside, watch 77.82—falling below this level could signal the end of the rebound. If the red segment’s decline is the entirety of the correction, we’ll need to see strong growth breaking through 94.83 in the future. If 57.84 is confirmed as the starting point of the first wave of weekly-level growth, as we predicted, it will also mark the starting point of the first wave of monthly-level growth.