Popular crypto analyst Altcoin Sherpa has recently highlighted the continued market strength of a red-hot artificial intelligence (AI)-related memecoin that has experienced a massive surge. Known as Act I: The AI Prophecy (ACT), this memecoin is currently showing strong performance on the four-hour chart, according to the pseudonymous trader.
Altcoin Sherpa, who shares insights with his 233,000 followers on the social media platform X, pointed out that ACT has successfully broken through the .382 Fibonacci retracement level at $0.59 and is maintaining it as a support level at the time of writing. The trader emphasized the solid technical analysis behind ACT’s recent movement, attributing its success not only to Elon Musk’s interaction but also to its strong base building.
As of now, ACT is trading at $0.64, marking an impressive increase of more than 4,800% from its low of $0.0130 on November 5th. This Solana (SOL)-based memecoin currently boasts a market cap of $616.8 million, further solidifying its position in the market.
Looking ahead, Altcoin Sherpa suggests that Solana may experience sideways trading for several months within the $259 to $210 range on the weekly timeframe before a potential breakout in late 2025. The analyst advises investors that this period of consolidation presents a good opportunity to accumulate SOL.
At the time of writing, Solana is priced at $244, showing a 3.5% increase in the last 24 hours. With the market dynamics and technical analysis in mind, Altcoin Sherpa continues to provide valuable insights and predictions for crypto enthusiasts and investors.
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