A crypto strategist says more rallies are in store for prominent decentralized exchange (DEX) Sushi (SUSHI) and Apecoin APE, the digital asset tied to the Bored Ape Yacht Club non-fungible token (NFT) collection.
Pseudonymous analyst The Flow Horse tells his 185,400 followers on social media platform
The trader believes Sushi could post gains of as much as 76% from current levels.
“SUSHI accepted the lows of 2022 again. I would expect at least $1.50, then $1.80.
Another great looking tech setup with a pair largely resigned to spotting.
At the time of writing, SUSHI is worth $1.02.
Next up is Apecoin, which traders believe is gearing up for a breakout rally.
“I think it’s time for APE to ape. This thing has been quiet while the cycle of pumping is over.
I think we will see much higher prices in the near future.
$1.50 is a key level, hold and we will trade back to the July low.”
Looking at the trader’s chart, he seems to predict that APE will rise to $1.80 if the price convincingly breaks through $1.50. At the time of writing, APE is trading at $1.45.
Another altcoin on the trader’s list is Filecoin (FIL), a crypto project designed to serve as a digital payment system for file storage and data retrieval. The Flow Horse says FIL may see more gains following its move above the key $5 resistance level.
“This is another one. FIL ripper hasn’t even happened yet.
Since the post about absorption recently, but not looking clean and full of steam above summer highs.
At the time of writing, FIL is worth $5.40.
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Generated image: Midjourney