Date: Sat, February 15, 2025 | 06:00 AM GMT
The cryptocurrency market is showing signs of recovery this week as major altcoins rebound from recent corrections. Bitcoin dominance has dropped by 2.10% over the past seven days, now sitting at 60.61%, suggesting a potential shift in momentum toward altcoins.
Among the most promising tokens, Bittensor (TAO) and Sei (SEI) are gaining traction, posting notable weekly gains after suffering significant corrections—25% and 56%, respectively, over the past two months.
Both tokens are now testing key resistance levels within their falling wedge patterns, hinting at potential breakout opportunities.
Bittensor (TAO)
TAO’s daily chart reveals a falling wedge pattern that emerged after a sharp rejection from its December 6 high of $744. The token underwent a steep correction, bottoming out at $237, where it tested the lower trendline of the wedge.
Currently, TAO is trading at $396 and is approaching the upper wedge resistance. If it successfully breaks above this level and confirms the breakout with a retest, the next major resistance stands at the 50-day Simple Moving Average (SMA). A confirmed breakout could push TAO toward the $498 resistance level, representing a 25% potential upside from the current price.
Additionally, the MACD indicator is turning positive, signaling a possible bullish shift in momentum.
Sei (SEI)
SEI is also showing strength as it edges closer to a breakout from its falling wedge pattern. The token recently found support around $0.19, aligning with the wedge’s lower boundary.
Now trading at $0.24, SEI is nearing the upper trendline of the wedge. If it breaks above this resistance, along with its 25-day SMA and successfully retests the level as support, it could trigger a rally toward the $0.34 resistance zone. This would mark a 43% potential increase from its current price.
What’s Next?
With TAO and SEI approaching critical breakout points, traders should closely monitor their price action. A confirmed breakout from the falling wedge pattern in either token could indicate the start of a strong upward trend. However, market sentiment and Bitcoin’s dominance will be crucial in determining the sustainability of these moves.
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