Crypto analyst and trader Ali Martinez said Cardano (ADA) could potentially enjoy explosive upside from current levels.
Martinez says 41,000 followers on social media platform
The cryptocurrency analyst and trader says the current consolidation phase is similar to what was experienced in 2020, right before ADA soared from around $0.10 to an all-time high of just over $3. This is a gain of over 2,900%.
According to the cryptocurrency analyst and trader, “If history repeats itself, we could see ADA resume its upward trend around April.”
As for his target for Cardano, Martinez says a correction of around 25% is likely awaiting the ninth-largest cryptocurrency asset by market capitalization on its way to hitting new all-time highs.
“If this pattern continues, we could potentially see a rise to $0.80, a brief correction to $0.60, and then $7!”
Cardano is trading at $0.499 at the time of this writing, approximately 1,302% below the $7 target.
Next is XRP. Martinez Called He is bearish on the sixth-largest cryptocurrency asset by market capitalization and predicts a potential decline of more than 30% from current levels.
“XRP is currently struggling to maintain the critical $0.55 support level. If this support does not hold, prepare for a sell scenario that could see XRP fall to $0.34!”
XRP is trading at $0.551 at the time of writing, about 38% above Martinez’s potential downside target of $0.34.
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