A well-known crypto strategist and trader is bullish on two altcoins due to upcoming catalysts.
Pentoshi, a trader with a large following on X, believes that Lido DAO (LDO), an Ethereum-based automated staking service, is poised for a significant price increase.
The trader anticipates a surge in long positions on LDO following speculation that US regulators will approve ETH staking in spot Ethereum ETFs.
“LDO
Expect a major price adjustment when the filings are released in the coming weeks. If ETH staking gets approval, LDO could be a lucrative investment.”
Based on Pentoshi’s analysis, a target price of $3.612 is set for LDO, which is currently valued at $1.95.
Another altcoin that Pentoshi is keeping an eye on is Ondo Finance (ONDO), a DeFi protocol focused on tokenizing real-world assets. The upcoming ONDO Summit 2025 on February 6th could lead to short-term price rallies for ONDO.
“ONDO summit happening in 10 days.
BlackRock’s chief investment officer will be speaking, and the connections at the event could trigger speculation in the short term. Price might rise before the event and then dip based on the news. A good short-term opportunity.”
One-12 days.”
Pentoshi also mentions that he plans to sell his ONDO holdings just before the summit. ONDO is currently priced at $1.29.
Subscribe to receive email alerts directly to your inbox
Stay updated on Price Action
Follow us on X, Facebook, and Telegram
Explore The Daily Hodl Mix
Generated Image: Midjourney