An analyst popular on social media suggests that a chart pattern indicates a potential upside breakout for one altcoin in the real-world assets (RWA) crypto sector.
With 118,700 followers on X, trader Ali Martinez shares that the RWA project Ondo Finance (ONDO) seems to be breaking out of a bull flag pattern.
Typically seen as a bullish signal, a bull flag pattern indicates that an asset is consolidating before embarking on a new rally.
Martinez predicts that ONDO could target $3.40, which would signify a 141% increase.
At the time of writing, ONDO is trading at $1.41, showing a more than 6% increase in the last 24 hours as the 37th-ranked crypto asset by market cap.
Martinez also points out that based on historical trends from Bitcoin (BTC) halvings, a bear market could potentially start between May and October this year. Bitcoin halving events halve BTC miner rewards.
In addition, the analyst highlights that almost $5 billion in BTC profits were realized in a single day on Thursday.
Currently, BTC is trading at $104,947, up over 1% in the past 24 hours as the leading crypto asset by market cap.
Martinez also mentions that crypto whales have sold more than 180 million of Cardano (ADA) over the past week.
The Ethereum (ETH) competitor, Cardano (ADA), is currently trading at $0.973.
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