Date: Thu, March 06, 2025 | 09:35 AM GMT
The cryptocurrency market is witnessing strong momentum, with major altcoins surging ahead of the highly anticipated White House crypto summit under Trump’s administration on Friday. This event has fueled renewed investor confidence, pushing Bitcoin (BTC) back to $91K after hitting a low of $81K on Tuesday.
Following the momentum, top AI Tokens, Render (RENDER) and Near Protocol (NEAR) leading the charge. RENDER has surged 8%, while NEAR is also climbing with 6% gains, both approaching key resistance levels within their respective falling wedge patterns.
Render (RENDER)
RENDER has been in a falling wedge pattern since facing rejection at $11.75 in early December. This months of correction led to a recent local low of $3.25, where buyers stepped in.
Currently, RENDER has rebounded to $4.01, where it is testing the upper wedge resistance. If a breakout occurs with retest confirmation, the next short-term target is $4.84.
Beyond that, continued bullish momentum could drive RENDER toward the 50-day moving average (50MA) and a key resistance at $7.18, marking a potential 76% upside.
Near Protocol (NEAR)
NEAR has followed a similar price structure, trading inside a falling wedge after peaking at $8.24 on December 6. The recent downtrend pushed the token to a low of $2.56, where buyers started accumulating.
Currently, NEAR has bounced to $3.09 and is testing the upper wedge boundary. If it successfully breaks out with a retest, the next immediate target is $3.63.
A sustained rally above $3.63 could push NEAR toward the 50MA and a major resistance zone at $4.84, offering a 55% potential upside.
What’s Next for RENDER and NEAR?
Both RENDER and NEAR are at crucial inflection points, with their price actions nearing the falling wedge breakout zones. If Bitcoin maintains its strength above $91K, it could further fuel bullish sentiment across altcoins.
With Bitcoin’s recovery and positive sentiment surrounding the upcoming crypto summit, RENDER and NEAR are well-positioned for potential breakouts. The next few trading sessions will be critical—if these tokens successfully clear their resistance levels, a strong rally could be on the horizon.
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