Bitcoin and especially altcoins continue to draw worldwide attention with their recent increases. Analyst “The Flow Horse” believes that an AI-focused altcoin will experience a significant price increase in the coming weeks. Speaking to his 202,100 followers on social media platform X, the analyst claims that the native token of the decentralized machine learning network Fetch.ai (FET) is about to reach its all-time high.
Analyst’s Evaluation of Altcoin FET Value
According to the analyst, FET’s spot cumulative volume delta (CVD) is on the rise. This indicates that market participants are heavily accumulating the altcoin. The analyst states, “FET continues to reach all-time highs after just over two years. This will continue sharply in the coming months. No other narrative has as strong a foundation as AI. We are still in the early stages of the AI story.” Currently, FET is trading at about 20% below its all-time high of $1.17, at $0.96.
Another coin that the analyst sees on an upward trend is the cryptocurrency of the decentralized storage network Filecoin, FIL. The analyst believes that FIL is set to break out after a year-long accumulation phase and shares his thoughts:
“Filecoin is currently preparing to break out of a year-long range. No need to say what’s next, but it’s a good delay. FIL should continue to break out. It has a perfect bottom structure on a high time frame. It will probably catch up with the rest of the market very quickly.”
Altcoin Market Set to Continue Its Rise
Analyst The Flow Horse notes that the altcoin market, in general, is showing a bullish outlook. Excluding Bitcoin (BTC), Ethereum (ETH), and stablecoins, the analyst looking at the TOTAL3 chart, which tracks the market value of all crypto assets, emphasizes that the altcoin market is on the verge of a strong uptrend.
According to the analyst’s approach, the TOTAL3 chart already appears to have bottomed out and is ready to start a new uptrend. With this new trend, the analyst suggests that new price peaks could be on the horizon.
