Date: Sat, March 15, 2025 | 05:36 PM GMT
The crypto market is beginning to show signs of recovery, with Bitcoin (BTC) bouncing back from this week’s low of $76K to its current level around $84K. After facing a steep correction since the highs of late 2024, altcoins like Internet Computer (ICP) and Polygon (POL) have been under pressure, recording significant losses over the past three months.
Source: Coinmarketcap
However, as the broader market starts to stabilize, both tokens are regaining momentum. They’re now climbing toward key resistance levels within their respective falling wedge patterns — a technical formation often seen as a bullish reversal indicator. If a breakout takes place, it could mark the early stages of a wider recovery across the altcoin market.
Internet Computer (ICP) Analysis
It’s been a rough ride for ICP. After hitting a high of $15.59 in early December, the token plunged more than 65%, finding a bottom at $4.84 on March 11. But that low seems to have triggered a bounce.
Internet Computer (ICP) Daily Chart/Coinsprobe (Source: Tradingview
ICP is now trading around $5.79 and is steadily approaching the upper resistance line of its falling wedge pattern on the daily chart. A breakout above this trendline — especially if confirmed with a retest — could set the stage for a move toward the $7.46 zone, which also lines up with the 50-day moving average (MA).
If bullish momentum continues to build, the next major target could be around $9.74, near the 100-day MA — representing a potential 67% upside from current levels.
Polygon (POL) Analysis
POL has followed a similarly painful path. After peaking at $0.76 in December, it tumbled over 75% and found support at $0.166 on March 11, where buyers finally stepped in.
Polygon (POL) Daily Chart/Coinsprobe (Source: Tradingview)
The token has since climbed back to around $0.2175, edging closer to the upper resistance of its falling wedge formation. A breakout here — validated by a healthy retest — could pave the way for a push toward the $0.33 resistance zone, which also coincides with its 50-day MA.
Should bulls continue to step in, POL could aim for the next major level at $0.42, near the 100-day MA. That would represent a possible 93% surge from its current price.
Could a Breakout Trigger a Recovery?
Both ICP and POL are at make-or-break levels. Falling wedge patterns are known as bullish reversal setups — but they require confirmation through strong breakout volume and follow-through price action.
If both tokens manage to push past their wedge resistances, it could spark fresh optimism in the altcoin space. But broader market conditions — including Ethereum’s performance and macroeconomic sentiment — will play a major role in determining whether any breakout leads to a sustained recovery or just another short-lived bounce.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. Always do your own research before making any investment decisions in cryptocurrencies.
