Date: Fri, February 7, 2025 | 08:51 AM GMT
The cryptocurrency market has been under pressure since the November rally, with major altcoins facing steep corrections. The rise in BTC dominance, coupled with recent events like the Deepseek launch and tariff-related uncertainty caused by Donald Trump, has contributed to a bearish environment.
Among the hardest-hit altcoins are Aptos (APT) and Sei (SEI), both of which have dropped by over 57% and 64% in the last 60 days.
Source: Coinmarketcap Amid these declines, both assets have reached key support levels, forming a double bottom pattern—a historically bullish reversal structure that could signal a strong comeback.
Aptos (APT)
On the weekly chart, APT appears to be forming a double bottom pattern. The recent rejection from its neckline at $12.06 on December 2 caused a retracement to its critical support level of $4.57. However, APT has shown resilience, holding above support at $5.80.
Aptos (APT) Weekly Chart/Coinsprobe (Source: Tradingview) Based on the chart, APT is currently completing the second bottom of the pattern. If the price continues to gain strength, a move toward the $12.06 neckline could be in play.
The MACD (Moving Average Convergence Divergence) indicator is beginning to show early bullish signals, suggesting that the bearish momentum is weakening.
Sei (SEI)
Similar to APT, SEI is also forming a double bottom pattern on the weekly chart. After facing a strong rejection from the $0.7361 neckline on December 2, SEI retraced to its major support level of $0.19. However, the cryptocurrency has successfully held above this zone, currently trading at $0.22.
Sei (SEI) Weekly Chart/Coinsprobe (Source: Tradingview) If SEI follows the double bottom structure, it could soon make a move back toward the $0.7361 neckline, signaling a potential recovery.
SEI’s MACD indicator is mirroring APT’s trend, showing signs of bearish momentum weakening, which could support an upward move.
Will This Pattern Lead to a Recovery?
At the moment, both APT and SEI are displaying strength at their major support levels. A successful breakout above their respective neckline resistances could confirm a bullish reversal, leading to a strong recovery.
However, the overall market sentiment—especially Bitcoin and Ethereum’s price action—will play a crucial role in determining whether these altcoins continue their upward trajectory. Traders should closely watch how these patterns develop in the coming weeks.
Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.
