A crypto strategist and trader with a significant following on social media is predicting potential rallies for two specific altcoins in the near future. As per Pentoshi, a pseudonymous trader, Ethereum-based automated staking service Lido DAO (LDO) and decentralized finance protocol Ondo Finance (ONDO) are gearing up for significant moves.
Pentoshi believes that LDO is set for a sharp upward trajectory due to speculations surrounding the approval of ETH staking in spot Ethereum exchange-traded funds by US regulators. He suggests that traders may consider entering long positions on LDO in anticipation of this development. The trader’s chart indicates a target price of $3.612 for LDO, which is currently valued at $1.95.
On the other hand, Pentoshi is also keeping an eye on ONDO, a DeFi protocol focused on tokenizing real-world assets. The upcoming ONDO Summit 2025 scheduled for February 6th has caught the trader’s attention, as prominent figures like BlackRock’s chief investment officer are expected to speak at the event. Pentoshi anticipates short-term rallies for ONDO leading up to the summit, followed by a potential sell-off post-event. As of now, ONDO is priced at $1.29.
In preparation for the ONDO Summit, Pentoshi mentions that he plans to sell off his ONDO stack just before the event to capitalize on potential price movements. The trader’s insights and analysis provide valuable information for investors looking to make strategic moves in the crypto market.
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