Date: February 3, 2025 | 06:03 PM GMT
After a brutal crash since yesterday, the cryptocurrency market is showing signs of recovery . The rebound comes after the Mexican President announced that U.S. tariffs would be delayed for a month following discussions with President Trump. This news has boosted investor sentiment, helping Bitcoin (BTC) reclaim $99K and Ethereum (ETH) bounce back to $2,700 from their 24-hour lows of $91K and $2,100, respectively.
Following this market-wide recovery, two major altcoins—Artificial Superintelligence Alliance (FET) and Worldcoin (WLD)—have also coming back on green track in last hour.
Source: Coinmarketcap
Both cryptocurrencies have held strong at key support levels and are forming a double bottom pattern, a historically bullish structure that could signal a major trend reversal.
Artificial Superintelligence Alliance (FET)
On the weekly chart, FET appears to be forming a double bottom pattern. The recent rejection from its neckline at $2.20 on December 2 caused a retracement to its critical support level of $0.60. However, FET has shown resilience, holding above support at $0.81.
Artificial Superintelligence Alliance (FET) Weekly Chart/Coinsprobe (Source: Tradingview)
Based on the chart, FET is currently completing the second bottom of the pattern. If the price continues to gain strength, a move toward the $2.20 neckline could be in play.
The MACD (Moving Average Convergence Divergence) indicator is beginning to show early bullish signals.
Worldcoin (WLD)
Similar to FET, WLD is also forming a double bottom pattern on the weekly chart. After facing a strong rejection from the $4.19 neckline on December 2, WLD retraced to its major support level of $0.96. However, the cryptocurrency has successfully held above this zone, currently trading at $1.35.
Worldcoin (WLD) Weekly Chart/Coinsprobe (Source: Tradingview)
If WLD follows the double bottom structure, it could soon make a move back toward the $4.19 neckline, signaling a potential recovery.
WLD’s MACD indicator is mirroring FET’s trend, showing signs of bearish momentum weakening.
Will This Pattern Lead to a Recovery?
At the moment, both FET and WLD 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.
