Here are Three Altcoins Set to Soar, According to Famous Crypto Trader
A well-known analyst in the cryptocurrency space is expressing optimism about a particular peer-to-peer storage altcoin project with notable backing.
The trader, operating under the moniker Altcoin Sherpa, said that Filecoin (FIL), a decentralized storage network, has the potential to surge by over 125% from its present valuation in the coming months.
$FIL: This doubles in the next few months IMO. pic.twitter.com/YEB9dBx0p9
— Altcoin Sherpa (@AltcoinSherpa) February 20, 2024
In their analysis, the trader indicates that Filecoin might transition the 50% level within its trading range into a supportive zone, potentially leading to a rally towards $16.20.
Filecoin garnered investment interest from the Winklevoss twins back in 2017 via their venture capital firm before they proceeded to establish the cryptocurrency exchange platform Gemini.
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Moving forward, the analyst suggests that Solana (SOL) might undergo a reevaluation of the $100 threshold.
$SOL: Buying around $100 seems right; this is still a pretty choppy chart. I think that just buying and holding is going to be the best strategy for most people overall. #Solana pic.twitter.com/0bGFCwXZYv
— Altcoin Sherpa (@AltcoinSherpa) February 20, 2024
Regarding Solana’s current market performance, it is trading at $104, witnessing a decrease of more than 3.5% within the last 24 hours.
Additionally, the analyst points out the potential for a rally in the decentralized payments platform Coti (COTI), projecting a target of $0.13 following a reevaluation of the $0.09 range.
$COTI: another 1 of the old coins that I recently decided to buy, it had some extremely strong moves the last few weeks. I believe we'll see some stalling at some of these wicks from before (not sure which), but still believe that we're going to break past these areas in the mid… pic.twitter.com/aKsRm4sT34
— Altcoin Sherpa (@AltcoinSherpa) February 19, 2024
The trader’s perspective on COTI is that despite encountering notable price movements in recent weeks, there could be some temporary resistance around previous peaks. However, the overall sentiment remains optimistic about surpassing these levels in the medium term, with the $0.09 area seen as an intriguing entry point.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
