A widely followed crypto strategist and trader thinks that rallies are in sight for two altcoins amid upcoming catalysts.
Pseudonymous trader Pentoshi tells his 847,800 followers on the social media platform X that he thinks the Ethereum (ETH)-based automated staking service Lido DAO (LDO) is gearing up for a steep move up.
The analyst believes that traders will enter long positions on LDO amid speculations that US regulators will approve the staking of ETH held in spot Ethereum exchange-traded funds (ETFs).
“LDO
Probably violent repricing when the filings come in the next couple of weeks… If you believe ETH staking will be approved, then LDO is likely a great bet.
So far, the price seems to be appreciating rapidly and has begun to start to price this in.”
Looking at the trader’s chart, he seems to be targeting $3.612 for LDO. At time of writing, LDO is worth $1.95
Another altcoin on the trader’s radar is Ondo Finance (ONDO), a decentralized finance (DeFi) protocol that aims to tokenize real-world assets (RWAs). Pentoshi says the ONDO Summit 2025 slated for February 6th could fuel short-term rallies for the crypto asset.
“ONDO summit coming up in [10 days].
BlackRock’s chief investment officer will be speaking and they have many connections there that will likely lead to some speculation short-term.
Price could potentially move up leading into the event followed by a sell-off on whatever news it may be. Might be a good short-term play.
One-12 days.”
The trader also highlights that he plans to unload his ONDO stack just before the event.
At time of writing, ONDO is worth $1.29.
Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
Check Price Action
Follow us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
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 losses 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.
Generated Image: Midjourney
Credit: Source link
