The crypto trader who expertly rode the 2023 rally in the digital asset markets has stated that he is interested in two large-cap altcoins. DonAlt, a pseudonymous trader on YouTube, tells his 50,700 subscribers that one of the altcoins that have piqued his interest is LDO, the native token of liquid staking service Lido DAO.
According to the crypto strategist, LDO remains appealing despite a significant retracement from last week’s high of $2.48. “Lido has been really interesting lately with massive moves that feel fully retraced. That is extremely difficult. I think those names, for example, Lido, if you’re bullish on altcoins, is a good one to express your bullishness.”
LDO is currently trading for $2.14 at the time of writing. Analysts are also interested in the peer-to-peer payments network Litecoin (LTC). Litecoin, according to DonAlt, appears interesting despite current conditions in the broader altcoin markets due to LTC’s impending halving event.
“I could see myself getting a re-entry there, so I like that one…
If you look at (the) Litecoin halving… it’s in 80 days. So that’s almost two and a half months. And that’s a good deadline to have because you don’t want to own Litecoin a month before it’s halved. That means you technically have 50 days for the Litecoin move to take place.
I like those time invalidations because if the market keeps churning and Litecoin doesn’t do anything in the next 10, 20, or 30 days, it’s no longer an interesting trade and you can simply exit.
That kind of stuff appeals to me, especially if the coin containing it is trading strongly, as Litecoin is.” At the time of writing, LTC is worth $92.45.
DonAlt claims that Ethereum (ETH), the leading smart contract platform, is showing signs of life as it refuses to completely collapse even after respecting $2,000 as resistance.
“In terms of ETH, I think the longer this goes sideways here, the better it is for bulls because these kinds of setups have to play out eventually, and the longer they don’t play out, the more likely they’ll just disappear…
If we have two more weeks that don’t necessarily go much further to the downside than the last (a couple of weeks), I think punting to the long side will become more interesting at that point.” At the time of writing, the value of Ethereum is $1,822.
