A widely followed crypto analyst says that one artificial intelligence (AI)-based altcoin looks strong while updating his outlook on Solana (SOL) and a handful of memecoins.
In a new strategy session, pseudonymous crypto trader Altcoin Sherpa tells his 224,800 followers on the social media platform X that Fetch.ai (FET) – now a part of the Artificial Superintelligence Alliance – has technical indicators that look extremely promising.
“FET. Things look extremely good for now. EMAs (exponential moving averages) on the 1d all tight; key [Fibonacci] levels and S/R (support/resistance) regions. More of a good buy and hold, in my opinion.”
FET is trading for $1.40 at time of writing, a 1.22% gain during the last 24 hours.
Moving on to smart contract platform Solana, Sherpa says that investors should be patient as the Ethereum (ETH) competitor doesn’t look like it will make a strong move to the upside anytime soon.
“SOL. Chop chop chop. This doesn’t have a super strong move for a bit longer in my opinion. Better to just buy and hold for later.”
SOL is trading for $154 at time of writing, a 1.4% gain on the day.
Sherpa concludes by recommending that investors who are interested in meme assets but are less active in the space accumulate meme coins that “haven’t run hard” yet, such as Floki (FLOKI), Bonk (BONK), and Pepe (PEPE).
“Lots of really good memes are still here at decent prices in my opinion. You can still accumulate a lot of them before they’re going 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 ran hard yet.”
Floki, Bonk, and Pepe are valued at $0.000152, $0.000024, and $0.00001 at time of writing, respectively.