The crypto trader who masterfully rode the 2023 rally in digital asset markets says he has his eye on two interesting large-cap altcoins.
In a new strategy session, pseudonymous trader DonAlt tells his 50,700 YouTube subscribers that one of the altcoins that caught his eye is LDO, the native token of Lido DAO, the liquidity brokerage service.
According to the crypto strategist, LDO looks attractive, although it dropped significantly from last week’s high of $2.48.
“Lido has been very interesting lately, where you have huge movements like you are completely withdrawn. That’s really hard. I think those names, for example, Lido is one of the names if you are bullish altcoins, it’s a good one to express the bullishness.
At the time of writing, LDO is trading at USD 2.14.
Another altcoin on the analyst’s radar is the peer-to-peer payment network Litecoin (LTC). According to DonAlt, Litecoin looks interesting despite the current conditions in the broader altcoin markets due to the incoming LTC halving.
“I saw myself getting a re-entry there, so I actually like that one…
If you look at (the) Litecoin halving… it’s 80 days (gone). So that’s two almost three months. And that is a nice deadline, because a month before the halving you absolutely do not want to own any Litecoin. That means you technically have 50 days to complete the Litecoin move.
I like those time invalidations because if the market continues to chop and Litecoin does nothing for the next 10, 20, 30 days, it’s not going to be an interesting trade anymore, so you can just get out.
I like that kind of thing, especially if the coin that has that is trading strong, which is what Litecoin has.
At the time of writing, LTC is trading at USD 92.45.
As for Ethereum (ETH), DonAlt says the leading smart contract platform is showing signs of life as it refuses to fully collapse even after hitting $2,000 as resistance.
“As for ETH, I think the longer this goes sideways here, the better it is for bulls, because these kind of setups have to work eventually, and the longer they don’t play, the more likely they’re just going to disappear…
If we have another two weeks that don’t necessarily extend much beyond (the) last (few weeks) down, I think punting to the long side at that point is going to get really interesting.
At the time of writing, Ethereum is worth $1,822.
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