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Crypto Analyst DonAlt, renowned for his accurate prediction of the 2023 crypto rally, has disclosed his focus on two high-volume altcoins. We have compiled the altcoins on DonAlt’s radar and his analysis for your perusal.
Altcoins on Analyst’s Radar: LDO and LTC
In a recent strategy session, anonymous crypto analyst DonAlt highlighted the first altcoin that piqued his interest: Lido DAO’s native asset, LDO, which provides a liquid staking service.
According to the analyst, even though LDO has significantly retracted from its highest level of $2.48 last week, it still presents an extremely enticing prospect.
“Lido has been making substantial moves recently as if it has fully retracted. This is indeed a challenging situation. I think these names, like LDO in altcoins, are good ones to express a rally for those on the rise,” he elaborates.
Another altcoin on the analyst’s radar is Litecoin (LTC), a peer-to-peer payment network. DonAlt suggests that despite the current conditions in the altcoin market, Litecoin looks rather intriguing, especially due to its impending block reward halving.
“I can see myself reentering this, hence I actually like this. There are 80 days left to Litecoin’s block reward halving event. Which means almost two to three months. You wouldn’t want to own Litecoin a month before the block reward halves. Technically, this means you have 50 days for this Litecoin move to happen. I like these reversal processes of such a rally because if the market continues to show volatility and Litecoin does nothing in the next 10, 20, 30 days, it won’t be an interesting trade anymore, hence you can exit. I like these kind of things, especially when a coin, like Litecoin, is trading strongly,” he remarks.
Contrarian Bullish Comment on Ethereum
Looking at Ethereum (ETH) after LDO and LTC, DonAlt reveals that the largest altcoin shows signs of life, even though it hasn’t managed to surpass the $2000 mark.
“Regarding ETH, I think the longer it goes sideways here, the better for the bulls because after such moves the price eventually has to go up and the longer it doesn’t happen, the probability increases. If we have two more weeks where we don’t go down much more than the last few weeks, I think at that point it will start to get really interesting to play the long side,” he concludes.
