Zinger Key Points
- Crypto analyst foresees a major upsurge for Onyxcoin, predicting a break from its descending triangle pattern.
- Bitcoin faces a critical resistance level, with a potential downturn on the cards if it slips below $92,110.
- Get real-time earnings alerts before the market moves and access expert analysis that uncovers hidden opportunities in the post-earnings chaos.
A significant surge is anticipated for an altcoin that has already seen a 920% increase within a month. The same analyst also shares his insights on Cardano ADA/USD and Bitcoin BTC/USD.
What Happened: Crypto analyst Ali Martinez expressed his bullish predictions for OnyxCoin XCN/USD, a utility token of the Onyx layer-3 blockchain. Martinez suggests that XCN, currently in a descending triangle pattern, is bracing for another significant price surge.
In technical analysis, a descending triangle is often seen as a bullish indicator if the asset’s price breaks out from above the descending trend line. At present, XCN is trading at $0.0247, a 920% rise from its January 16th low of $0.00242.
Martinez also turned his focus to Cardano, stating that ADA is reflecting a pattern that previously triggered a 2,600% rally.
Also Read: Forget Dogecoin And Shiba Inu – This Altcoin Expected To Skyrocket By 116% Before End Of This Cycle
He predicts that this could soon lead to a parabolic rally for Cardano, potentially hitting a price of around $15, an estimated increase of about 1,820% from its current level.
On the other hand, Martinez cautions that Bitcoin is encountering strong resistance at the price of $97,350. He indicates that if Bitcoin adjusts to around the $92,110 level, it could be susceptible to a sharp fall, considering the weak support below $92,110.
Why It Matters: The predictions made by Martinez have significant implications for the crypto market. The potential surge in OnyxCoin and Cardano could attract more investors and possibly lead to a shift in market dynamics.
However, the predicted downfall of Bitcoin could result in a market downturn, affecting investor sentiment and overall market stability.
These predictions underscore the volatile nature of the crypto market and the need for investors to stay informed and vigilant.
Read Next
Image: Shutterstock
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
