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Analyst Says Ethereum Staking Token High on His Watchlist, Predicts Rallies for Two Additional Altcoins – The Daily Hodl | CPT PPP Coverage

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Analyst Says Ethereum Staking Token High on His Watchlist, Predicts Rallies for Two Additional Altcoins – The Daily Hodl appeared on dailyhodl.com by The Daily Hodl.

A crypto analyst who nailed the end of the Bitcoin (BTC) bull market is naming one Ethereum (ETH)-based token that he says has the potential to explode.

Pseudonymous crypto strategist Pentoshi says that LDO, the native token of ETH staking project Lido DAO, is likely to print considerable gains now that it is trading above a key resistance level at $3.10.

“Will keep an eye on this level [$3.10]. Above it is nothing but air. Looking to play a breakout and retest if given. High on my watchlist as price discovery possible.” 

Source: Pentoshi/Twitter

At time of writing, LDO is worth $3.23, up nearly 9% in the last 24 hours.

The crypto analyst also has his radar locked on CRV, the governance token of stablecoin-focused decentralized exchange Curve Finance. According to Pentoshi, CRV looks bullish after taking out resistance at $1.14 on the low timeframe (LTF).

“CRV going for it on LTFs.”

Image
Source: Pentoshi/Twitter

At time of writing, CRV is trading for $1.25, up over 4% on the day.

Pentoshi is also keeping a close watch on interoperability protocol Synapse (SYN), which he says is likely to witness extended rallies.

“Just slowly grinding up. No changes in positioning for me last couple days. Just waiting for next target price level to come.”

Image
Source: Pentoshi/Twitter

At time of writing, SYN is worth $1.55, a fractional dip in the past day.

As for Bitcoin itself, Pentoshi believes that BTC remains bullish after converting a previous resistance level into support.

“$23,300-$23,700 [support to resistance] flip. Retest potential. First major spot to watch after the move up.”

Image
Source: Pentoshi/Twitter

At time of writing, Bitcoin is trading for $24,709, well above Pentoshi’s new support level.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Masterofedit69



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