A crypto analyst closely believed that one on Solana (SOL)-based meme token is preparing for further fluctuations upwards.
Pseudonymous trader Altcoin Sherpa tells His 244,000 followers on the social media platform X that artificial intelligence (AI) -based Fartcoin (Fartcoin) will probably break the resistance level of $ 1 after achieving mass profits in the past month.
However, he says that it can first return to the .382 Fibonacci retracement level at $ 0.70.
Fibonacci retracement levels are used in the technical analysis for determining the support and resistance levels of an active.
“I don’t have much opinion about Fartcoin at the current level; would probably wait to buy during a break of $ 1 or at $ 0.70. Still think that it will be much higher later, but not certainly in the short term. Anyway, hot air rises and in my opinion this is the meme of the cycle.”
Fartcoin acts for $ 0.871 at the time of writing, an increase of 220% from March 18 when it was valued at $ 0.267.
Next, the analyst out Die Popcat (Popcat), another on solo-based memecoin, can continue to fall until the Fibonacci racement level touches around $ 0.23 before the course reverses and shoots up.
“Popcat in the hope of getting a mention in the region of $ 0.23, let’s see if it is coming. Maybe the scalp.”
Popcat acts for $ 0.24 at the time of writing, a decrease of 6.9% in the last 24 hours.
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Generated image: dalle3