Top AI Tokens RENDER and NEAR Hit Key Demand Zones – Is a Rebound Possible?

Date: Tue, March 11, 2025 | 06:16 AM GMT

The cryptocurrency market continues its strong downtrend, which began after the rallies in late 2024. In the past 24 hours, the price of Ethereum (ETH) has dropped by over 8%, plummeting from its December high of $4,000 to its current level of $1,900. This has added immense pressure across the altcoin market.

Amid this bearish momentum, two top AI tokens, Render (RENDER) and Near Protocol (NEAR), have been pulled down to test key support/demand zones. Both tokens have suffered a drop of over 7% in the last 24 hours and a major correction of over 60% in the past 90 days.

Render (RENDER)

The weekly chart of RENDER reveals a clear descending triangle pattern, which has been forming for nearly a year. After peaking at $11.90 in December 2024, the price faced multiple rejections from the descending trendline, leading to an extended correction.

Currently, RENDER is trading around the $2.80 demand zone, which previously acted as a strong resistance level before turning into support. This is a critical area historically associated with bullish reversals, making it a level to watch for a potential bounce.

Another key observation is that the price is trading below the 100-day moving average, highlighting strong bearish momentum. However, the MACD indicator is showing early signs of selling pressure weakening. The histogram bars are shrinking, indicating that bearish momentum may be fading, setting the stage for a possible reversal.

If buyers step in and this support zone holds, RENDER could see a rebound toward the upper resistance trendline of the triangle, potentially targeting the $8.00 range in the short term.

Near Protocol (NEAR)

Like RENDER, NEAR has also been forming a descending triangle pattern on the weekly timeframe. After reaching a peak of $8.24 in December, the price has steadily declined due to repeated rejections from the upper trendline.

At the time of writing, NEAR is trading near the $2.40 support zone—historically a major resistance-turned-support level. This zone has played a crucial role in past reversals, making it a critical level to monitor.

NEAR is also trading below the 100-day moving average, indicating bearish pressure remains dominant. However, just like RENDER, the MACD histogram is showing signs of reduced selling momentum, which could suggest a potential shift in trend.

If NEAR manages to hold above this demand zone, we could see a relief rally back toward the descending trendline.

Is a Rebound Possible?

Both RENDER and NEAR have entered key demand zones that previously acted as strong support levels. With signs of weakening selling momentum on the MACD and historical price action indicating potential reversals, these tokens could be at a pivotal moment.

However, the overall market trend remains bearish, with Bitcoin and Ethereum struggling to regain upward momentum. For a confirmed bullish reversal, both tokens must hold their respective support zones and reclaim key moving averages.

Disclaimer: This article is for informational purposes only and not financial advice. Always conduct your own research before investing in cryptocurrencies.