Circle stock is reportedly entering the third phase of the Elliot Wave pattern, with analysts forecasting a potential rise to $200. The stock has rebounded from a low of $85 earlier this month to $108, and is forming the third phase of the Elliot Wave, known for being the longest bullish phase. A key resistance level at $137 is anticipated, with further gains potentially reaching $175 and eventually $200, nearly doubling its current value. Analyst Gab Growth highlights Circle's strong revenue growth, driven by an increase in USDC stablecoin circulation, which rose from $60 billion in January to $78.8 billion. Circle's revenue benefits from high interest rates as it invests in short-term government bonds. However, challenges remain due to its partnership with Coinbase, which takes all interest generated on USDC on its platform. Circle is diversifying its business with initiatives like the Arc layer 1 launch and the Circle Payment Network to reduce reliance on interest income.