Popular cryptocurrency analyst Altcoin Sherpa said one of the popular artificial intelligence (AI)-linked memecoins continues to perform well in the market after a massive surge.
An anonymous trader tells his 233,000 followers on social media platform
According to trader charts, ACT has broken the .382 Fibonacci retracement level at $0.59 and continues to hold support at the time of this writing.
“ACT is moving very well and we are seeing great movement in some of the Elon (Musk) interactions. But the technical analysis for this was actually very solid as well. Because it built a base (it didn’t go all the way to $0.36 like I wanted). Big move for all these AI coins (November 29th), we’ll see what happens.”
ACT is trading at $0.64 as of this writing, up more than 4,800% from its November 5 low of $0.0130. The market capitalization of Solana (SOL)-based memecoin is $616.8 million.
Next, the analyst suggests Solana could potentially trade sideways for several months between the $259 and $210 range on weekly time frames before breaking out in late 2025.
“I think SOL is between $200 and $250. It’s a great time to accumulate.”
At the time of writing, Solana is trading at $244, up 3.5% in the last 24 hours.
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