{"id":88462,"date":"2025-02-14T21:47:09","date_gmt":"2025-02-14T21:47:09","guid":{"rendered":"https:\/\/peraltafinancing.com\/altcoin\/analyst-says-altcoin-thats-exploded-920-in-one-month-gearing-up-for-another-leg-up-updates-outlook-on-cardano\/"},"modified":"2025-02-14T21:47:09","modified_gmt":"2025-02-14T21:47:09","slug":"analyst-says-altcoin-thats-exploded-920-in-one-month-gearing-up-for-another-leg-up-updates-outlook-on-cardano","status":"publish","type":"post","link":"https:\/\/fivemor.com\/?p=88462","title":{"rendered":"Analyst Says Altcoin That\u2019s Exploded 920% in One Month Gearing Up for Another Leg Up, Updates Outlook on Cardano"},"content":{"rendered":"


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Analyst Ali Martinez is highlighting a crypto asset that he believes is primed for a rally while unveiling his outlook for Cardano (ADA<\/a>).<\/p>\n

Martinez tells<\/a> his 125,200 followers on the social media platform X that the utility token of the Onyx layer-3 blockchain, Onyxcoin (XCN<\/a>), is consolidating in a descending triangle pattern and is \u201cpotentially gearing up for the next leg up.\u201d<\/p>\n

In technical analysis, a descending triangle is considered bullish if the price of an asset breaks out from above the descending trend line.<\/p>\n

\"Image\"
Source: Ali Martinez<\/figcaption><\/figure>\n

XCN is trading at $0.0247 at time of writing, up by 920% from the January 16th low of $0.00242.<\/p>\n

Next up is Cardano. Martinez says<\/a> that ADA is currently mirroring a pattern that previously resulted in a 2,600% rally.<\/p>\n

\u201cLooking 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!\u201d<\/em><\/p>\n

\"Image\"
Source: Ali Martinez<\/figcaption><\/figure>\n

Based on the trader\u2019s chart, it appears he\u2019s suggesting that Cardano could go up to a price of around $15, a potential gain of around 1,820% from the current level.<\/p>\n

ADA is trading at $0.781 at time of writing.<\/p>\n

Turning to Bitcoin (BTC<\/a>), the crypto analyst says<\/a> that the flagship digital asset is facing stiff resistance at the price of $97,350. According to Martinez, Bitcoin is at risk of a steep fall if it corrects to around the $92,110 level.<\/p>\n

\u201c\u2026support below $92,110 is weak, as there\u2019s a gap between $90,000 and $70,000.\u201d<\/em><\/p>\n

\"Image\"
Source: Ali Martinez<\/figcaption><\/figure>\n

Bitcoin is trading at $96,155 at time of writing.<\/p>\n

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