US crypto stocks are in the spotlight today following the passing of Landmark Senate’s Genius Act on Tuesday.
In light of this development, important inventory to watch includes Coinbase coins and Circle CRCL, with Galaxy Digital’s GLXY becoming popular behind recent ecosystem updates.
Coinbase Global (Coin)
Coin’s prices rose more than 15% after the groundbreaking passage of the Senate Genius Act.
Adding fuel to the rally, yesterday the exchange announced the launch of Coinbase Payments. This is a new Stablecoin transaction network that enables USDC payments on major commercial platforms such as Shopify and eBay.
These developments have led to today’s rapid surge in coin prices. The stock has grown 16% over the past 24 hours, reflecting the trust of mountaineering investors.
The rise in Chaikin Money Flow (CMF) on the daily chart has confirmed an increase in buy orders. At the time of writing, the momentum indicator is above the zero line of 0.04.
The CMF indicator measures how an asset enters and leaves the asset. Measurements above zero thus indicate that purchase pressure is dominant among traders. If this continues, Coin could potentially cost more than $305.42.
However, if demand falls, the stock’s price could drop to $270.61.
Circle Internet Group (CRCL)
Circle’s shares have skyrocketed since its IPO on June 5th. On Tuesday, CRCLE lost 33% in response to the passing of the Senate of the Genate Act. It currently trades at $199.59 and earns more than five times the profit from the $31 IPO price.
On the daily chart, the stock accumulation/distribution (A/D) line is 24 million, exceeding 250% in the past day.
The A/D line measures money in and out of assets by combining price data and volume data. As the A/D line rises, it indicates that the purchase pressure exceeds the sales pressure, suggesting a possible price increase.
If this trend holds, CRCL could infiltrate more than the all-time high of $200.90, potentially extending profits.
On the other hand, if the purchase pressure is leaning, the value of the stock could be immersed in $168.59
Galaxy Digital (glxy)
Gk8 by Glaxy partners with Polymesh to provide facility-grade custody, provide secure staking for Polyx, and enable high-security staking in compliance through its mysterious safe.
The move will strengthen institutional access to regulated digital assets, particularly in South Korea, where Polyx is seeing rapid growth and adoption.
This has enhanced the performance of Glxy. At the time of writing, the stock’s relative strength index (RSI) is rising, poised to break above the neutral line. This highlights the demand for Glxy.
The RSI indicator measures the market conditions for asset acquisitions and overselling. It ranges from 0 to 100. Values ​​above 70 suggest that the asset is over-acquired and paid for a price drop, while values ​​below 30 indicate that the asset is over-sold and may witness a rebound.
Increased at 48.53, Glxy’s RSI indicates that it is built to buy momentum. This suggests the possibility of further rise if bullish emotions continue to be reinforced. In this case, the price of the stock could break the resistance at $19.57 and rise to $21.30.
On the other hand, if demand falls, the value of the stock could fall to $17.40.
Disclaimer
In line with Trust Project guidelines, this price analysis article is for informational purposes only and should not be considered financial or investment advice. Although Beincrypto is committed to accurate and unbiased reporting, market conditions are subject to change without notice. Always carry out your research and consult with an expert before making any financial decisions. Please note that our terms and conditions, privacy policy and disclaimer have been updated.
