A widely followed cryptocurrency analyst and trader is turning bullish on one decentralized storage altcoin project.
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.
“FIL is on the cusp of the most outrageous pump, two-year accumulation range almost cleared.”
Source: Bluntz/X
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.
Filecoin is trading for $11.57 at time of writing, up over 14% in the last 24 hours.
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
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