Chart Pattern Suggests RWA-Focused Altcoin Looks Primed To Rally, Says Crypto Analyst – Here’s His Outlook

A chart pattern suggests one altcoin operating on the real-world assets (RWA) crypto sector looks ready for an upside burst, according to a popular analyst.

The trader Ali Martinez tells his 118,700 followers on the social media platform X that the RWA project Ondo Finance ( ONDO ) “appears to be breaking out of a bull flag.”

A bull flag is typically viewed as a bullish pattern, suggesting that an asset is consolidating before kicking off on a new rally.

Martinez says the bull flag suggests ONDO could be targeting $3.40, which would represent a 141% increase.

ONDO is trading at $1.41 at time of writing. The 37th-ranked crypto asset by market cap is up more than 6% in the past 24 hours.

The crypto analyst also says that historical trends related to Bitcoin ( BTC ) halvings suggest a bear market could begin between May and October of this year. A Bitcoin halving is a highly anticipated event that slashes BTC miner rewards in half.

Martinez also notes nearly $5 billion in BTC profits were realized on Thursday alone.

BTC is trading at $104,947 at time of writing. The top-ranked crypto asset by market cap is up by more than 1% in the past 24 hours.

Martinez also notes that crypto whales sold more than 180 million of Cardano ( ADA ) over the past week.

The Ethereum ( ETH ) rival is trading at $0.973 at time of writing.

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Follow us on X , Facebook and Telegram

Surf The Daily Hodl Mix

Generated Image: Midjourney