Popular crypto analyst Altcoin Sherpa says that one red-hot artificial intelligence (AI)-related memecoin continues to show market strength after a massive surge.
The pseudonymous trader tells his 233,000 followers on the social media platform X that Act I: The AI Prophecy (ACT) is looking strong on the four-hour chart.
According to the trader’s chart, ACT has broken through the .382 Fibonacci retracement level at $0.59 and continues to hold it as support at time of writing.
“ACT is moving extremely well, huge move from some Elon [Musk] interaction. The technical analysis on it was actually very solid as well, though, as it built a base (didn’t quite go to $0.36 like I wanted). Big moves for all of these AI coins [November 29th], let’s see what happens.”
ACT is trading for $0.64 at time of writing, up more than 4,800% from its low of $0.0130 on November 5th. The Solana (SOL)-based memecoin has a market cap of $616.8 million.
Next up, the analyst suggests that Solana may trade sideways for many months between the $259 and $210 range on the weekly timeframe before potentially breaking out in late 2025.
“SOL between $200-$250 in my opinion. Good time to accumulate.”
Solana is trading for $244 at time of writing, up 3.5% in the last 24 hours.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Generated Image: Midjourney
Credit: Source link
