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 (CRYPTO: ADA) and Bitcoin (CRYPTO: BTC).
What Happened: Crypto analyst Ali Martinez expressed his bullish predictions for OnyxCoin (CRYPTO: XCN), 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.
Full story available on Benzinga.com