Renowned analyst DonAlt recently revealed his top two large-cap altcoins to his 50,000 plus YouTube subscribers.
In a new strategy session, the analyst shared that one of the altcoins that caught his eye is LDO, the native token of Lido DAO, the liquid-staking service.
According to the crypto strategist, LDO looks attractive, although it fell back significantly from last week’s high of $2.48. He said the following:
“Lido has been very interesting lately, where you have huge movements like you are completely withdrawn. That’s really hard. I think those names, for example, Lido is one of the names if you are bullish on altcoins, it’s a good one to express the bullishness.”
Another altcoin on the analyst’s radar is the peer-to-peer payment network Litecoin (LTC). According to DonAlt, Litecoin looks interesting despite the current conditions in the broader altcoin markets due to the incoming LTC halving. He said the following:
“If you look at (the) Litecoin halving… it’s 80 days (gone). So that’s two almost three months. And that is a nice deadline, because a month before the halving you absolutely do not want to own any Litecoin. That means you technically have 50 days to execute the Litecoin move.
I like those time invalidations because if the market continues to chop and Litecoin does nothing for the next 10, 20, 30 days, it’s not going to be an interesting trade anymore, so you can just get out.
I like that kind of thing, especially if the coin that has that is trading strong, which is what Litecoin has.”
Finally, the analyst also looked at the chart of the number two cryptocurrency at the moment, Ethereum (ETH). He noted that the coin is showing signs of life as it refuses to collapse completely even after hitting $2,000 as resistance.
“Regarding ETH, I think the longer this goes sideways here, the better it is for bulls, because these sorts of setups have to work eventually, and the longer they don’t play, the more likely they’re just going to disappear…
If we have another two weeks that don’t necessarily go much further than (the) last (few weeks) down, then I think punting to the long side at that point is going to get really interesting.”