Popular crypto analyst Altcoin Sherpa says one popular artificial intelligence (AI) memecoin continues to show market strength after a huge surge.
A pseudonymous trader is telling his 233,000 followers on social network X that Act I: AI Prophecy (ACT) is looking strong on the four-hour chart.
According to the trader’s chart, ACT has broken the .382 Fibonacci retracement level at $0.59 and continues to hold it as support at the time of writing.
“ACT is moving very well, a huge step from some Elon. [Musk] interaction. The technical analysis on this was actually very reliable as well as it built a base (didn’t quite get to $0.36 like I wanted). Big moves for all these AI coins [November 29th]Let’s see what happens.”
At the time of writing, ACT is trading at $0.64, up more than 4,800% from its November 5 low of $0.0130. The market capitalization of the Solana-based memcoin (SOL) is $616.8 million.
The analyst further suggests that Solana could trade sideways for many months in the $259 to $210 range on the weekly chart before potentially breaking out in late 2025.
“In my opinion, the SOL costs between $200 and $250. It’s a good time to save.”
At the time of writing, Solana is trading at $244, up 3.5% in the last 24 hours.
Generated image: Midjourney
