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.
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