A carefully adopted crypto analyst believes one Solana (SOL)-based meme token is gearing up for additional swings to the upside.
Pseudonymous dealer Altcoin Sherpa tells his 244,000 followers on the social media platform X that synthetic intelligence (AI)-based Fartcoin (FARTCOIN) will probably break by means of the $1 resistance stage after placing up large features prior to now month.
Nonetheless, he says the meme asset could first return to the .382 Fibonacci retracement stage at $0.70.
Fibonacci retracement ranges are utilized in technical evaluation for figuring out an asset’s help and resistance ranges.
“Don’t have a lot of an opinion on Fartcoin at present stage; would in all probability wait to purchase on a break of $1 or at $0.70. Nonetheless suppose this one goes a lot larger later however undecided within the brief time period. Regardless, sizzling air rises and that is the meme of the cycle for my part.”
Fartcoin is buying and selling for $0.871 at time of writing, up 220% from March 18th when the token was valued at $0.267.
Subsequent up, the analyst says that Popcat (POPCAT), one other SOL-based memecoin, could proceed declining till hitting the Fibonacci retracement stage round $0.23 earlier than reversing course and skyrocketing.
“POPCAT hoping to seize an entry on the $0.23 area, let’s see if it comes. May scalp earlier than then although.”
Popcat is buying and selling for $0.24 at time of writing, down 6.9% within the final 24 hours.
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