Date: March 15, 2025

The cryptocurrency market is beginning to show signs of stabilization, with Bitcoin ($BTC ) experiencing a notable rebound of over 3% today, recovering from its weekly low of $76,000 to its current price of $84,000. After a significant downtrend following the late 2024 rallies, altcoins such as Render ($RENDER ) and The Graph ($GRT ) have faced substantial corrections, with RENDER dropping by 64% and GRT by 77% over the past 90 days.

Amidst the broader market recovery, both RENDER and GRT have gained more than 7% and 6%, respectively, today, as they approach critical resistance levels within their respective falling wedge patterns. A successful breakout could signal the start of a potential recovery for these tokens.

Render (RENDER) Technical Analysis

RENDER’s daily chart reveals a falling wedge pattern, a bullish reversal formation that began following a rejection from the December 6 high of $11.86. The resulting correction saw the token decline by over 75%, reaching a low of $2.52 on March 11.

Currently, RENDER has rebounded to $3.20 and is nearing the upper resistance of the falling wedge. A breakout above this level and a subsequent retest could propel RENDER toward the next key resistance zone at $4.83, aligning with the 50-day moving average (MA). A strong breakout above this point could further push RENDER toward the 100-day moving average and the $6.19 price zone, representing a potential 94% rally from current levels.

The Graph (GRT) Technical Analysis

Similarly, GRT has been trading within a falling wedge pattern since reaching its peak of $0.3483 on December 5. Over the course of the downtrend, GRT experienced a decline of 77%, bottoming out at $0.080 on March 11.

At present, GRT has rebounded to $0.095 and is approaching the upper resistance of the falling wedge. A breakout above this resistance, followed by a retest, could drive GRT toward its next key resistance zone at the 50-day moving average and the $0.1480 price level. A confirmed breakout above this zone could push GRT toward the 100-day moving average and the $0.19 range, offering a potential 101% upside from current levels.

Can a Breakout Trigger a Recovery?

Both RENDER and GRT are at pivotal technical junctures, forming bullish falling wedge patterns on their respective charts. If these tokens manage to break above their resistance levels and confirm their breakouts with strong volume, they could experience significant upside potential in the coming weeks.

However, broader cryptocurrency market sentiment, the price action of Ethereum, and macroeconomic factors will play an essential role in determining whether these breakouts lead to a sustained recovery or are short-lived.

In conclusion, while the technical outlook for RENDER and GRT appears promising, market dynamics and external factors will remain crucial in determining their future price trajectory.

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