Analyst says Ethereum puts tokens at the top of its watch list, predicting rallies for two more altcoins
A crypto analyst pinning the end of Bitcoin’s (BTC) bull market names an 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 see sizeable gains now as it trades above a key $3.10 resistance level.
“Will keep an eye on this level [$3.10]. Above that there is nothing but air. I want to play a breakout and retest if necessary. High on my watch list as price discovery is possible.”
Source: Pentoshi/Twitter
At the time of writing, LDO is worth $3.23, up nearly 9% over the past 24 hours.
The crypto analyst also has his radar on CRV, the governance token of stablecoin-focused decentralized exchange Curve Finance. According to Pentoshi, CRV is looking bullish after clearing the resistance at $1.14 on the low time frame (LTF).
“CRV relies on LTFs.”
Source: Pentoshi/Twitter
At the time of writing, CRV is trading at $1.25, up over 4% on the day.
Pentoshi is also closely monitoring the Synapse (SYN) interoperability protocol, which he says is likely to see widespread rallies.
“Just grind slowly. No changes in positioning for me in the past few days. Just waiting for the next target price level to come.”
Source: Pentoshi/Twitter
At the time of writing, SYN is worth $1.55, a fraction of the last day.
As for Bitcoin itself, Pentoshi believes BTC remains bullish after turning a previous level of resistance into support.
“$23,300 to $23,700 [support to resistance] tilt. Test the potential again. First big spot after the climb.”
Source: Pentoshi/Twitter
At the time of writing, Bitcoin is trading at $24,709, well above the new Pentoshi support level.
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