A widely followed crypto analyst says one artificial intelligence (AI)-based altcoin is looking strong as he updates his view on Solana (SOL) and a handful of memecoins.
In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tells According to its 224,800 followers on social media platform
“FET. Things are looking extremely good for now. EMAs (exponential moving averages) on the 1d all tight; key [Fibonacci] levels and S/N regions (support/resistance). In my opinion, more of a good buy and hold.”
FET is trading at $1.40 at the time of writing, a gain of 1.22% over the last 24 hours.
We continue with smart contract platform Solana, Sherpa say that investors should be patient as it doesn’t look like the Ethereum (ETH) competitor will make a strong move upward anytime soon.
“SOL. Heel heel heel. This is no longer a super strong move in my opinion for a while. Better to just buy and hold for later.”
SOL is trading at $154 at the time of writing, a gain of 1.4% on the day.
Sherpa concludes with a recommendation to investors interested in meme assets but less active in the space accumulate meme coins that “haven’t run yet,” such as Floki (FLOKI), Bonk (BONK) and Pepe (PEPE).
“There are still a lot of really good memes at reasonable prices in my opinion. You can collect a lot of them before they go crazy. Yes, smaller onchain memes are better R:R (risk/reward), but if you’re less active and want to buy and hold, coins like FLOKI, BONK, and PEPE haven’t seen a significant uptick yet.
Floki, Bonk, and Pepe are valued at $0.000152, $0.000024, and $0.00001, respectively, at the time of writing.
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Featured image: Shutterstock/Dario Lo Presti/Mia Stendal