Analyst Predicts AI-Focused Altcoin Will Reach New All-Time Highs
A top crypto analyst believes that one altcoin focused on artificial intelligence (AI) will experience significant price increases in the coming weeks. The analyst, known as The Flow Horse, suggests that Fetch.ai’s native token (FET), which operates on a decentralized machine learning network, is about to reach a new all-time high. The trader points to FET’s spot cumulative volume delta (CVD) as evidence that market participants are accumulating the altcoin. The Flow Horse asserts that AI has strong potential for growth due to its early stage in development. At present, FET is valued at $1.07, just 9% below its all-time high.
Decentralized Storage Network Coin Poised for Breakout
The Flow Horse also has his eye on Filecoin (FIL), the native asset of a decentralized storage network. According to the analyst, FIL is on the verge of breaking out of a year-long accumulation phase. With a strong bottoming structure on the high time frame, FIL is expected to catch up quickly with the rest of the market. Currently priced at $7.73, FIL has seen an increase of over 4% in the last 24 hours.
Bullish Outlook for Altcoin Market
The Flow Horse is bullish on the entire altcoin market. Analyzing the TOTAL3 chart, which tracks the market cap of all cryptocurrencies excluding Bitcoin, Ethereum, and stablecoins, the analyst predicts a strong uptrend for altcoins. The trader suggests that timing the transfer to top buyers will be crucial during this period.
Based on The Flow Horse’s chart analysis, it appears that TOTAL3 has already formed a bottom and is poised for an upward trend.
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