One of the most prominent cryptocurrency analysts and traders is now bullish about a decentralized storage altcoin.
Bluntz is the pseudonymous analyst. tells Filecoin is a peer to peer file storage network that Filecoin has (FILAfter breaking out of the long-term accumulation stage, ) has a greater upside potential.
“FIL is on the cusp of the most outrageous pump, two-year accumulation range almost cleared.”
The trader’s chart shows that FIL is poised to break above its diagonal support and move above its multi-year top of $11.390.
Filecoin currently trades for $11.57, an increase of over 14% since the previous 24 hours.
Filecoin will be launched in October 2020 with the support of Winklevoss Capital and other crypto venture capital firms.BTC) billionaire twins Tyler Winklevoss and Cameron Winklevoss – the duo who created the crypto exchange platform Gemini.
Next, the trader doubles down Solana’s prediction that the SolanaSOLDogwifhat is a memecoin based on the )-based dogwifhat (WIF( will reach $3. He believes WIF can eventually mimic the price pattern that is printed on the native asset of Nosana’s crowd-computing platform (NOS).
“Visual representation (below) of what I think happens.”
Last but not least, the trader says Solana competitor Sei (SEI) appears to be on the verge of forming a fifth-wave surge to the $1.40 level.
“Let the god candle commence.”
Bluntz uses Elliott Wave theory. This is a technique of technical analysis which tries to predict the future price movement by following the crowd psychology, which manifests itself in waves. According to this theory, an asset that is bullish goes through five waves of growth before entering a corrective phase.
SEI trades for $0.904 as of the time of this writing, down by more than 1% over the past 24 hours.
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Source: dailyhodl.com