Solana-Based Bonk Targets 7% Gain, Alchemist AI Shows Strength

A closely followed crypto analyst has expressed optimism about a Solana-based memecoin, Bonk (BONK), suggesting that it is in the early stages of a market recovery. The analyst, known as Altcoin Sherpa, shared a chart indicating that BONK is likely to face resistance at the $0.000012 level before potentially rallying to a target above $0.0000145. According to the analyst, BONK is showing strength in the short term and is expected to pull back around the 200 EMA on the four-hour chart, but any buying at current levels is considered reasonable.

At the time of writing, BONK is valued at $0.00001376. The analyst also turned his attention to Alchemist AI (ALCH), a low-cap altcoin that appears to be in an uptrend. ALCH is an AI-based crypto project that allows users without coding skills to generate codes through natural language descriptions. Altcoin Sherpa described ALCH as having a strong chart and noted that it has replaced another volatile AI coin, ARC, which moves significantly on a daily basis. The analyst expressed interest in buying dips in ALCH, indicating a bullish outlook on the asset.

At the time of writing, ALCH is the 431st-largest crypto asset by market cap, trading at $0.109. Regarding Bitcoin, Altcoin Sherpa expects it to consolidate within a large trading range between $70,000 and $90,000 over the next several weeks. The analyst believes that the relative bottom for Bitcoin is likely in, but further consolidation is expected. At the time of writing, Bitcoin is trading at $85,366.

In summary, the analyst's bullish outlook on Solana-based memecoins and AI altcoins reflects a broader trend of optimism in the crypto market. Investors are increasingly looking for alternative investment opportunities, and memecoins and AI altcoins are emerging as popular choices. The analyst's predictions are based on technical analysis and market trends, and while they are optimistic, they also caution investors to do their own research and consider the risks involved in investing in volatile assets like memecoins and altcoins.