Crypto trader Ali Martinez, Cardano (ADA) is on the verge of a potentially explosive run. The analyst noted on X that Cardano is currently in a consolidation phase on the three-day chart.
The trader says the current consolidation phase is similar to what ADA experienced in 2020 just before it rocketed from around $0.10 to its all-time high of just over $3. This means a gain of over 2,900%.
“If history repeats itself, we may see ADA continue its upward trend around April,” the analyst said. he stated.
As for his targets for Cardano, Martinez says a correction of around 25% is likely ahead for the ninth-largest crypto asset by market cap on its way to a new all-time high.
“A continuation of this pattern could potentially lead to a rally towards $0.80, a short correction to $0.60, and then to $7!”
Koinfinans.com As we reported, Cardano is trading at $0.499 at the time of writing, approximately 1.302% below the $7 target.
Following the analyst XRPHe headed towards. Martinez says he is bearish on the sixth-largest crypto asset by market cap, expecting a potential decline of over 30% from current levels.
“XRP is currently trying to hold on to the critical support level of $0.55. If this support fails, be prepared for a potential sell-off scenario that could see XRP drop to $0.34!”
XRP is trading at $0.551 at press time, about 38% above Martinez’s potential downside target of $0.34.