Circle (NYSE: CRCL) stock price is up by 12% today, September 3, to trade at $99 at the time of writing. The gains come amid easing geopolitical tensions after President Trump said that the US-Iran war is over. The uptrend also coincides with a US House testimony by Circle’s President, Heath Tarbert, who has urged Congress to pass the CLARITY Act in order to strengthen the US dollar.
Circle President Urges Congress to Pass CLARITY Act
While speaking before the US House Financial Services Committee, Tarbert noted that the CLARITY Act and the GENIUS Act were “dollar statecraft in its most practical form.”
In this statement, Tarbert suggested that the GENIUS and CLARITY Act laws could ensure that the next era of digital finance is created around the US dollar and not around another currency or financial system.
Tarbert also urged the US Congress to pass the CLARITY Act on a bipartisan basis, while also ensuring that the GENIUS Act rules are implemented “faithfully.”
Tarbert’s House testimony comes after the US Treasury announced it was seeking public comments on stablecoin issuance before implementing GENIUS Act rules.
Meanwhile, data from CoinGape prediction markets shows that there is only an 18% chance that the US Congress will pass the CLARITY Act in 2026 as US senators hold a vote on this bill on September 15.
Circle Stock Price Jumps on Easing Macro Conditions
The price of CRCL stock is up by 10% today after the odds of the Federal Reserve hiking rates during the September FOMC meeting dropped after dovish remarks by Fed governor Christopher Waller.
Waller said that the Fed should leave interest rates steady at between 3.50% and 3.75% if the August inflation data confirms that consumer prices are dropping.
Data from prediction markets shows that 58% of investors are expecting there not to be a change in interest rates during the September 16-17 FOMC meeting.
Circle stock also edged higher amid reports that President Trump is considering announcing that the US-Iran war is over. The easing geopolitical tensions also fuelled demand for CRCL and caused a more than 10% gain on September 3.
CRCL Stock Forecast as Price Hits 3-Month High
CRCL stock price has surged to $99 for the first time since June 3. The shares are now trading above the resistance of $95, with a confirmed close above this price set to suggest that the uptrend could continue.
The recent move above $95 also shows that the crypto stock has completed a rounded bottom pattern that usually points towards a healthy recovery. This rounded bottom has a height of 61%, suggesting that these are the gains that could occur after a confirmed close above $95.
The RSI reading of 66 suggests that the momentum is favoring bulls, and the price of CRCL stock could edge higher. The OBV line that is rising and making higher highs also suggests that the buying pressure is more than the selling pressure.
However, if CRCL stock price fails to close above $95, the price could move to retest the psychological support at $90 before attempting another upward move.
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