Analyst Says Altcoin That’s Exploded 920% in One Month Gearing Up for Another Leg Up, Updates Outlook on Cardano
Analyst Ali Martinez is highlighting a crypto asset that he believes is primed for a rally while unveiling his outlook for Cardano (ADA). Martinez tells his 125,200 followers on the social media platform X that the utility token of the Onyx layer-3 blockchain, Onyxcoin (XCN), is consolidating in a descending triangle pattern and is “potentially gearing up for the next leg up.” In technical Analysis , a descending triangle is considered bullish if the price of an asset breaks out from above the descending trend line. Source: Ali Martinez XCN is trading at $0.0247 at time of writing, up by 920% from the January 16th low of $0.00242. Next up is Cardano. Martinez says that ADA is currently mirroring a pattern that previously resulted in a 2,600% rally. “Looking back at history, Cardano seems to be repeating the same pattern from 2020 to 2021 at a slower pace, which could soon lead to a parabolic rally!” Source: Ali Martinez Based on the trader’s chart...