The cryptocurrency market has dipped into the red zone as we head into the weekend. Leading cryptocurrency Bitcoin also lost its level of 51 thousand dollars. However, many analysts and traders continue to be bullish going forward. A popular crypto analyst is bullish on a peer-to-peer storage altcoin project backed by billionaires. Besides, the analyst predicts that COTI will rally after a correction.
Altcoin Sherpa: FIL Doubles in a few months!
cryptokoin.comAs you follow from , the market could not sustain its recovery and started to lose ground. Leading crypto Bitcoin lost $51,000 after resisting. In this negative atmosphere, hopes did not disappear completely. Popular analyst nicknamed Altcoin Sherpa says decentralized storage network Filecoin (FIL) will rise more than 125% from its current value within months. The analyst said, “FIL: I think it will double in the next few months.” says.
Based on its chart, the analyst suggests that Filecoin could turn the 50% level in a trading range into support and rise to $16.20. The billionaire Winklevoss twins first invested in Filecoin through their venture capital firm in 2017. Meanwhile, Filecoin was trading at $8.19 at the time of writing, up nearly 8% in the last 24 hours. The token also gained over 38% on its weekly chart.
Analyst expects a post-correction rally from COTI
Next, the analyst looks at decentralized payment platform Coti (COTI). Altcoin Sherpa predicts that the token will rise to $0.13 after retesting the $0.09 zone. In this context, the analyst makes the following statement:
COTI: Another of the older coins that I recently decided to purchase. It has made some extremely strong moves over the last few weeks. I believe we will see some pause in some of these wicks before (not sure which ones). However, I still believe that we will overcome these areas in the medium term. In this case, we can see the $0.09 region as an entry area.
Meanwhile, COTI was trading at $0.09752 at the time of writing, up 2.43% on a daily basis. The token saw an increase of approximately 7% on its weekly chart.
Analyst: Buying and holding SOL is a good strategy!
Finally, the analyst covers Ethereum (ETH) rival Solana (SOL). Altcoin Sherpa predicts that SOL will retest the $100 level. However, he says buying and holding SOL is a good strategy. The analyst said, “LEFT: Buying around $100 seems right. This is still a pretty choppy chart. “I think just buying and holding is going to be the best strategy for most people.” says.
Meanwhile, Solana was trading at $102 at the time of writing, down more than 4.5% in the last 24 hours. SOL also lost approximately 8% value on its weekly chart.
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