This Altcoin is Set to Surge Significantly, According to Crypto Analyst
A well-known cryptocurrency analyst and trader, operating under the pseudonym Bluntz, has expressed optimism about a particular decentralized storage altcoin project.
Bluntz suggests that Filecoin (FIL), a peer-to-peer file storage network, is exhibiting signs of significant potential growth following a prolonged period of accumulation.
$FIL is on the cusp of the most outrageous pump,
2 year accumulation range almost cleared. pic.twitter.com/JFPFLhlmyZ
— Bluntz (@Bluntz_Capital) March 8, 2024
Highlighting FIL’s recent breakout from a lengthy accumulation phase, Bluntz anticipates a substantial upward movement, indicating that the altcoin is nearing a remarkable surge after nearly two years of consolidation.
Observing the current market dynamics, Bluntz points out that FIL has surpassed its previous diagonal resistance, positioning itself to surpass its multi-year high of $11.390.
As of the time of writing, Filecoin is trading at around $12, registering a gain of over 8% within the last 24 hours.
Launched in October 2020 with the support of prominent crypto venture firms such as Winklevoss Capital, Filecoin has garnered significant attention in the cryptocurrency space.
READ MORE: Altcoins Set to Eclipse Bitcoin in Current Cycle, According to Crypto Expert
In addition to Filecoin, Bluntz shares insights into other crypto assets. He reiterates his belief that the memecoin dogwifhat (WIF) has the potential to reach $3, drawing parallels to the price movement of the native asset of the crowd-computing platform Nosana (NOS).
visual representation of what i think happens pic.twitter.com/n7jfiLVu4Q
— Bluntz (@Bluntz_Capital) February 27, 2024
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.
