Date: Sun, February 23, 2025 | 06:47 PM GMT
In the cryptocurrency market this week, major altcoins are showing mixed signs of recovery after facing a significant correction over the past 60 days.
Among the impacted altcoins, two AI Tokens, Near Protocol (NEAR) and The Graph (GRT), have corrected over 35% in the last two months. Both assets are now testing key resistance, and technical indicators suggest a possible reversal could be in play.
Near Protocol (NEAR)
NEAR’s daily chart highlights a falling wedge pattern that formed after a sharp rejection from the December 6 high of $8.24. The correction saw NEAR plummet to a low of $2.72, where it tested the lower trendline of the wedge.
However, NEAR has now rebounded to $3.41 and is inching towards the upper resistance of the wedge. If the price breaks out and successfully retests this wedge, the next key resistance lies at the 50-day moving average (MA).
A successful move beyond this level could push the price towards the next resistance levels of $4.51 and $6.22, representing an 81% potential upside from the current price.
The Graph (GRT)
The Graph (GRT) is also following a similar falling wedge pattern to NEAR, which formed after a sharp rejection from the December 5 high of $0.34838. The correction saw GRT plummet to a low of $0.078, where it tested the lower trendline of the wedge.
However, GRT has now rebounded to $0.135 and is approaching the upper resistance of the wedge. If the price breaks out and successfully retests this wedge, the next key resistance lies at the 50-day MA.
A decisive move beyond this level could propel the price towards the next resistance levels of $0.19 and $0.24, representing a 74% potential upside from the current price.
Final Thoughts
Both NEAR and GRT are demonstrating resilience at their respective resistance levels, hinting at the possibility of a trend reversal. The MACD indicator is showing early signs of bullish momentum, with the signal line converging towards a crossover. However, their next moves will largely depend on the broader market conditions, particularly Ethereum (ETH) and Bitcoin (BTC) dominance.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always conduct your own research before investing in cryptocurrencies.
The opinions and market insights shared on CoinsProbe represent the views of individual authors based on prevailing market conditions at the time of publication. Cryptocurrency investments carry significant risk and volatility. Readers are encouraged to conduct their own research and seek professional financial advice before making investment decisions. CoinsProbe and its contributors do not accept responsibility for financial losses or decisions made based on published content.
CoinsProbe may publish sponsored articles, affiliate links, or promotional collaborations. All sponsored material is clearly labeled to maintain transparency with our audience. Our editorial decisions remain fully independent, and advertising partnerships do not influence reviews, rankings, or published opinions.
Since 2023, CoinsProbe has delivered reliable insights on cryptocurrency, blockchain, and digital assets. Our content is created by experienced researchers and analysts who follow strict editorial standards focused on accuracy, transparency, and credibility. Every article is carefully reviewed and verified using trusted sources and current market data. We provide unbiased analysis and timely updates covering everything from emerging crypto projects to major industry developments.
