Popular crypto analyst Altcoin Sherpa says that one red-hot artificial intelligence (AI)-related memecoin continues to show market strength after a massive surge.
The pseudonymous trader tells his 233,000 followers on the social media platform X that Act I: The AI Prophecy (ACT) is looking strong on the four-hour chart.
According to the trader’s chart, ACT has broken through the .382 Fibonacci retracement level at $0.59 and continues to hold it as support at time of writing.
“ACT is moving extremely well, huge move from some Elon [Musk] interaction. The technical analysis on it was actually very solid as well, though, as it built a base (didn’t quite go to $0.36 like I wanted). Big moves for all of these AI coins [November 29th], let’s see what happens.”
Source: Altcoin Sherpa/X
ACT is trading for $0.64 at time of writing, up more than 4,800% from its low of $0.0130 on November 5th. The Solana (SOL)-based memecoin has a market cap of $616.8 million.
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