Filecoin

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 <p>A widely followed cryptocurrency analyst and trader is turning bullish on one decentralized storage altcoin project.</p>
 <p>The analyst pseudonymously known as Bluntz tells his 239,700 followers on social media platform X that peer-to-peer file storage network Filecoin (FIL) has more upside potential after breaking out of a long-term accumulation phase.</p>
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 <p><em>“FIL is on the cusp of the most outrageous pump, two-year accumulation range almost cleared.”</em></p>
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    <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GIKmkmoa4AAaN41?format=jpg&amp;name=medium" alt="Image" width="975" height="578">
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      Source: Bluntz/X
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 <p>Looking at his chart, the trader suggests that FIL has broken above its diagonal resistance and is now poised to move above its multi-year high of $11.390.</p>
 <p>Filecoin is trading for $11.57 at time of writing, up over 14% in the last 24 hours.</p>
 <p>Filecoin launched in October of 2020 with the backing of large crypto venture firms, including Winklevoss Capital, the venture capital company co-founded by the Bitcoin (BTC) billionaire twins Tyler Winklevoss and Cameron Winklevoss – the duo who created the crypto exchange platform Gemini.</p>
 <p>Next up, the trader doubles down on his prediction that the Solana (SOL)-based memecoin dogwifhat (WIF) will hit $3. He believes WIF could eventually mirror the price pattern printed by the native asset of the crowd-computing platform Nosana (NOS).</p>
 <p><em>“Visual representation (below) of what I think happens.”</em></p>
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    <figure style="width: 100%" class="wp-caption aligncenter"><img decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GHTejz3bAAAmK-2?format=jpg&amp;name=medium" alt="Image" width="1200" height="499">
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      Source: Bluntz/X
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 <p>Lastly, the trader says Solana competitor Sei (SEI) appears to be on the verge of forming a fifth-wave surge to the $1.40 level.</p>
 <p><em>“Let the god candle commence.”</em></p>
 <figure style="width: 100%" class="wp-caption alignnone"><img loading="lazy" decoding="async" class="css-9pa8cd" draggable="true" src="https://thebittimes.com/image/getimage/?url=https://pbs.twimg.com/media/GIGUqvgaMAAzjrS?format=jpg&amp;name=large" alt="Image" width="1277" height="586">
  <figcaption class="wp-caption-text">
   Source: Bluntz/X
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 <p>Bluntz uses the Elliott Wave theory, a technical <a rel="noopener noreferrer nofollow" title="Category Analysis" href="https://thebittimes.com/analysis.html">Analysis</a> approach that attempts to predict future price action by following crowd psychology that tends to manifest in waves. According to the theory, a bullish asset goes through a five-wave surge before entering a three-wave corrective period.</p>
 <p>SEI is trading for $0.904 at time of writing, down more than 1% in the last 24 hours.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/altcoin-backed-by-bitcoin-billionaires-on-the-cusp-of-outrageous-pump-according-to-top-analyst-tbt82088.html">https://thebittimes.com/altcoin-backed-by-bitcoin-billionaires-on-the-cusp-of-outrageous-pump-according-to-top-analyst-tbt82088.html</a></p>

Altcoin Backed by Bitcoin Billionaires on the Cusp of ‘Outrageous Pump,’ According to Top Analyst

TheBitTimes

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