Crypto Analyst Ali Martinez Highlights Onyxcoin (XCN) and Cardano (ADA) as Assets Primed for Rallies

Analyst Ali Martinez is highlighting a crypto asset that he believes is primed for a rally while unveiling his outlook for Cardano (ADA).

Crypto analyst Ali Martinez is highlighting a crypto asset that he believes could rally soon while also unveiling his outlook for Cardano (ADA).

Martinez told his 125,200 followers on the social media platform X that the native 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.

At the time of writing, XCN is trading at $0.0247, up by 920% from the January 16th low of $0.00242.

Next, Martinez analyzed Cardano (ADA). He noted 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!”

Based on the trader’s chart, it appears he’s suggesting that Cardano could go up to a price of around $15, a potential gain of around 1,820% from the current level.

At the time of writing, ADA is trading at $0.781.

Finally, the crypto analyst turned his attention to Bitcoin (BTC), noting that the flagship digital asset is facing strong 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.

“…support below $92,110 is weak, as there’s a gap between $90,000 and $70,000.”

At the time of writing, Bitcoin is trading at $96,155.