A prominent cryptocurrency analyst is taking a bullish stance on a billionaire-backed peer-to-peer storage altcoin project.
A pseudonymous trader known as Altcoin Sherpa says 207,700 followers on social media platform
“FIL: I think this number will double in the next few months.”
Looking at the trader’s chart, he suggests that Filecoin could turn the 50% level of the trading range into support and rise to $16.20.
The billionaire Winklevoss twins first invested in Filecoin through their venture capital firm in 2017. They went on to co-found Gemini, a cryptocurrency exchange platform.
Filecoin is trading at $7.19 at the time of this writing and is down nearly 5% in the last 24 hours.
Next is the merchant Called Ethereum (ETH) rival Solana (SOL) may retest the $100 level.
“SOL: I think it makes sense to buy it for about $100. This is still a pretty uneven chart. I think just buying and holding is going to be the best strategy overall for most people.”
Solana is trading at $104 at the time of this writing, down more than 3.5% in the last 24 hours.
Finally, the merchant Called Decentralized payments platform Coti (COTI) may rise to $0.13 after retesting the $0.09 region.
“COTI: This is one of the older coins I recently decided to purchase. There has been some very strong movement over the past few weeks. I believe we will be seeing some delays in some of these wicks from before (not sure which ones). But we still believe we will break through these areas in the medium term. We would view the $0.09 area as an entry area of interest.”
COTI is trading at $0.092 at the time of this writing, down nearly 4% in the last 24 hours.
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