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"Analyst Martinez Spots Altcoin Breakout, Predicts Cardano's Parabolic Rally"

Coin WorldFriday, Feb 14, 2025 4:08 pm ET
1min read

Crypto analyst Ali Martinez has identified a promising altcoin and shared his outlook on Cardano (ADA), highlighting potential opportunities in the crypto market. Martinez, with a following of 125,200 on the social media platform X, believes that Onyxcoin (XCN), the utility token of the Onyx layer-3 blockchain, is consolidating in a descending triangle pattern and could be gearing up for the next leg up. In technical analysis, a descending triangle is considered bullish if the price breaks out from above the descending trend line.

XCN is currently trading at $0.0247, up by 920% from its January 16th low of $0.00242. Martinez also discussed Cardano, noting that ADA is mirroring a pattern that previously resulted in a 2,600% rally. He suggests that Cardano could soon experience a parabolic rally, potentially reaching a price of around $15, which would represent a gain of approximately 1,820% from the current level. ADA is currently trading at $0.781.

Turning to Bitcoin (BTC), Martinez highlighted that the flagship digital asset is facing stiff resistance at the price of $97,350. He warned that Bitcoin is at risk of a steep fall if it corrects to around the $92,110 level, as support below this point is weak, with a significant gap between $90,000 and $70,000. BTC is currently trading at $96,155.

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applesandpearss
02/14
If XCN pumps, layer 3 blockchain might get some love. Onyxcoin utility token could be the sleeper hit. 🤑
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Running4eva
02/14
Cardano's ADA mirroring a 2,600% rally pattern? HODL tight, fam. Could see $15 soon. Not financial advice, just vibes.
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Electrical_Green_258
02/14
Cardano's got that 2k% vibe brewing, just like before. Gonna hodl and see if it hits that sweet $15 zone. 🚀
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GnosticSon
02/14
BTC facing resistance at $97,350. Warning: if it drops to $92,110, it might get ugly. Gotta keep an eye on that gap.
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Fauster
02/15
@GnosticSon Think BTC's got support at $92,110?
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krogerCoffee
02/14
XCN's got that sweet descending triangle vibe. Breakout could mean moon 🚀. Not touching that diamond hands stash yet though.
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Disclaimer: the above is a summary showing certain market information. AInvest is not responsible for any data errors, omissions or other information that may be displayed incorrectly as the data is derived from a third party source. Communications displaying market prices, data and other information available in this post are meant for informational purposes only and are not intended as an offer or solicitation for the purchase or sale of any security. Please do your own research when investing. All investments involve risk and the past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit, or protect against loss in a down market.
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