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Altcoins NEAR and FET Show Signs of Recovery – Is a Trend Reversal Imminent?
$NEAR
$FET
Date: Fri, February 14, 2025 | 03:58 AM GMT
After experiencing a market correction following the November rally, we are now seeing potential signs of recovery among select altcoins. Bitcoin dominance has decreased by 1.75% in the past week, now standing at 60.80%. This drop hints at the possibility of altcoins, such as Near Protocol (NEAR) and Artificial Superintelligence Alliance (FET), starting to reverse their recent downtrends.
Both tokens had suffered significant losses in the past two months, with NEAR and FET correcting by 49% and 54%, respectively. However, these coins are now showing promising signs of recovery, and both are currently testing key resistance levels within their falling wedge patterns. If the bullish momentum persists, these altcoins could soon break out and signal a trend reversal.
Near Protocol (NEAR) – A Glimpse of Bullish Potential
NEAR has been following a falling wedge pattern since its high of $8.24 on December 6. Following a significant correction that brought the token down to $2.68, NEAR is now showing signs of a rebound, currently trading around $3.44. This recovery is accompanied by a shift in the MACD, which is leaning toward a bullish crossover, suggesting a potential reversal in momentum.
If NEAR successfully breaks above the wedge and surpasses the 25-day Simple Moving Average (SMA), the next resistance point lies at $4.84, representing a potential 41% upside. However, the critical support level remains at $2.68, and a break below this price would weaken the bullish outlook.
Artificial Superintelligence Alliance (FET) – Early Stages of Reversal
FET has been undergoing a similar pattern, having faced rejection from its December 6 high of $2.19 and dropping to as low as $0.60. Now, FET is showing signs of recovery, trading at $0.79, with the MACD also turning bullish, suggesting a potential trend shift.
Should FET break out of its falling wedge and cross above the 50-day SMA, it could see a rally towards $1.04, offering a 32% upside from its current position. Just like NEAR, the $0.60 level remains crucial for FET, and a fall below this support would challenge its recovery prospects.
Outlook for Trend Reversal
Both NEAR and FET are displaying early signs of bullish reversal, but their ability to break out and confirm a trend reversal will depend heavily on broader market conditions. If Ethereum (ETH) continues its recovery and Bitcoin dominance continues to decrease, these altcoins could gain more momentum.
For now, traders should carefully monitor the resistance levels and volume confirmation to determine the next course of action. A successful breakout from the falling wedge could pave the way for strong gains in the weeks ahead.
Disclaimer: This analysis is for informational purposes only and not intended as financial advice. Always do your own research before making any investment decisions in cryptocurrencies.
#NEARRecovery #FETReversal #AltcoinRecovery #CryptoAnalysis
$FET
Date: Fri, February 14, 2025 | 03:58 AM GMT
After experiencing a market correction following the November rally, we are now seeing potential signs of recovery among select altcoins. Bitcoin dominance has decreased by 1.75% in the past week, now standing at 60.80%. This drop hints at the possibility of altcoins, such as Near Protocol (NEAR) and Artificial Superintelligence Alliance (FET), starting to reverse their recent downtrends.
Both tokens had suffered significant losses in the past two months, with NEAR and FET correcting by 49% and 54%, respectively. However, these coins are now showing promising signs of recovery, and both are currently testing key resistance levels within their falling wedge patterns. If the bullish momentum persists, these altcoins could soon break out and signal a trend reversal.
Near Protocol (NEAR) – A Glimpse of Bullish Potential
NEAR has been following a falling wedge pattern since its high of $8.24 on December 6. Following a significant correction that brought the token down to $2.68, NEAR is now showing signs of a rebound, currently trading around $3.44. This recovery is accompanied by a shift in the MACD, which is leaning toward a bullish crossover, suggesting a potential reversal in momentum.
If NEAR successfully breaks above the wedge and surpasses the 25-day Simple Moving Average (SMA), the next resistance point lies at $4.84, representing a potential 41% upside. However, the critical support level remains at $2.68, and a break below this price would weaken the bullish outlook.
Artificial Superintelligence Alliance (FET) – Early Stages of Reversal
FET has been undergoing a similar pattern, having faced rejection from its December 6 high of $2.19 and dropping to as low as $0.60. Now, FET is showing signs of recovery, trading at $0.79, with the MACD also turning bullish, suggesting a potential trend shift.
Should FET break out of its falling wedge and cross above the 50-day SMA, it could see a rally towards $1.04, offering a 32% upside from its current position. Just like NEAR, the $0.60 level remains crucial for FET, and a fall below this support would challenge its recovery prospects.
Outlook for Trend Reversal
Both NEAR and FET are displaying early signs of bullish reversal, but their ability to break out and confirm a trend reversal will depend heavily on broader market conditions. If Ethereum (ETH) continues its recovery and Bitcoin dominance continues to decrease, these altcoins could gain more momentum.
For now, traders should carefully monitor the resistance levels and volume confirmation to determine the next course of action. A successful breakout from the falling wedge could pave the way for strong gains in the weeks ahead.
Disclaimer: This analysis is for informational purposes only and not intended as financial advice. Always do your own research before making any investment decisions in cryptocurrencies.
#NEARRecovery #FETReversal #AltcoinRecovery #CryptoAnalysis
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