A closely followed crypto strategist is predicting big bursts to the upside for two artificial intelligence (AI)-related altcoins including Worldcoin (WLD).
Ali Martinez tells his 46,500 followers on the social media platform X that he thinks the native asset of the decentralized storage network Filecoin (FIL) is close to witnessing a big breakout.
Filecoin’s decentralized network offers a cheaper alternative for data storage, making the crypto project attractive to AI firms looking to save large datasets.
According to Martinez, FIL can print gains of about 200% if it takes out its immediate resistance.
“Filecoin is trading within a parallel channel on its three-day chart. Watch out for the resistance posed by the channel’s upper boundary, set at $8.50.
A successful breakthrough this barrier could significantly bolster FIL’s price, potentially tripling its value to reach $25.5!”
A parallel channel is a technical pattern indicating that an asset is in a sideways consolidation phase as it trades within a range. At time of writing, FIL is trading at $7.60.
As for Worldcoin, Martinez thinks that the native asset of the eye-scanning biometric crypto project co-founded by OpenAI chief executive Sam Altman is not yet done rallying. According to the analyst, WLD could surge by as much as 268% from current levels after breaking out of an ascending parallel channel.
“Worldcoin appears to have broken out of an ascending parallel channel on its daily chart, setting the stage for potential upward movement. If this breakout holds, WLD could rise to $15 and possibly even extend to $26.”
An ascending parallel channel is typically seen as a bullish pattern as it indicates that an asset is printing higher highs and higher lows.
At time of writing, WLD Is worth $6.79.
Post courtesy of DailyHODL.com.
