A crypto analyst is predicting a significant price increase for Ondo Finance (ONDO), an altcoin focused on real-world assets (RWAs).
Bullish Prediction for ONDO
According to analyst Ali Martinez, ONDO’s chart shows a “bull flag” pattern. This pattern often precedes a price surge. Martinez suggests ONDO could hit $3.40, a massive 141% jump from its current price of around $1.41. This prediction is based on his analysis of the chart pattern, which indicates a period of consolidation before a potential rally. ONDO is currently showing positive momentum, up over 6% in the last 24 hours.
Bitcoin Halving and Market Outlook
Martinez also shared his thoughts on the broader crypto market. He believes that historical trends related to Bitcoin (BTC) halvings suggest a potential bear market between May and October of this year. A Bitcoin halving, a significant event that cuts BTC miner rewards in half, often influences market sentiment. He points out that a significant amount of Bitcoin profits – nearly $5 billion – were realized on a single day recently. Despite this, BTC is currently trading above $104,000, slightly up for the day.
Cardano Whale Activity
Finally, Martinez noted that large investors (whales) recently sold over 180 million Cardano (ADA) tokens. ADA, an Ethereum competitor, is currently trading around $0.97.
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