Render🚀🚀

Date: Sunday, March 09, 2025 | 04:48 AM GMT

The cryptocurrency market has experienced notable developments in recent weeks, including major announcements such as U.S. President Trump's unveiling of the Crypto Strategic Reserve, executive orders for a Bitcoin Strategic Reserve, and the hosting of the White House Crypto Summit. Despite these pivotal events, the anticipated bullish momentum has yet to materialize, as the broader downtrend that began following the November 2024 rally persists.

This sustained decline has notably impacted leading altcoins such as Aptos ($APT ) and Render ($RENDER ), both of which have endured significant corrections—APT down by 56% and RENDER by 65% over the last 90 days.

Currently, both assets are testing critical support levels and forming a double-bottom pattern, a technical structure historically associated with bullish reversals.

Aptos (APT) Analysis

The weekly chart of Aptos (APT) suggests the development of a double-bottom formation, which began after the price failed to break through the $12.06 resistance level in early December 2024. The rejection at this level resulted in a sharp decline, pushing APT back toward its key support zone at $5.00—a price point where buyers have previously entered the market to drive prices higher.

As of writing, APT is trading at $6.10, showing signs of stabilization around this crucial support level. The MACD indicator is beginning to show early indications of a shift in momentum, as selling pressure appears to be easing.

Should APT successfully maintain this support level and see renewed buying interest, the next logical resistance target would be the $12.06 neckline. A breakout above this level could confirm the reversal pattern, potentially signaling a move back toward the $20+ range in the months ahead.

Render (RENDER) Analysis

Render (RENDER) has followed a similar path, also forming a double-bottom pattern after failing to break through the $11.50 resistance in early December 2024. Since then, RENDER has revisited its critical support zone at $3.43, a level historically associated with buyer interest.

Currently trading at $3.43, RENDER shows signs of stabilization. The MACD indicator is flashing early bullish signals, with the histogram reflecting reduced selling pressure.

If RENDER continues to adhere to the double-bottom structure, it could retest the $11.50 resistance level in the coming weeks. A breakout above this price point would signal a strong recovery, with the potential to push RENDER toward its previous all-time highs.

Will These Patterns Lead to a Reversal?

At present, both APT and RENDER are positioned in critical zones. The double-bottom formations suggest that, as long as these assets maintain their key support levels, there is a significant potential for a price bounce. However, a full bullish confirmation will only be achieved if these tokens can cross above their respective key moving averages (MAs), signaling a shift in market momentum.

Another key factor influencing the potential recovery of APT and RENDER is Ethereum's price action. A strong uptrend in ETH could spark a broader altcoin rally, reinforcing the bullish reversal signals seen in these two assets.

Conclusion

While the overall market sentiment remains uncertain, the technical formations of APT and RENDER suggest a potential reversal in the making. Investors should closely monitor key resistance levels, the behavior of the moving averages, and the performance of Bitcoin and Ethereum to gauge the likelihood of a sustained recovery. The current patterns, while promising, require confirmation before a full-fledged bullish reversal can be declared.