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 doubtless break via the $1 resistance stage after placing up large features previously month.
Nevertheless, he says the meme asset might 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 most likely wait to purchase on a break of $1 or at $0.70. Nonetheless suppose this one goes a lot increased later however undecided within the quick 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, might 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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