Cryptocurrency trader and strategist Ali Martinez expressed bullish sentiments on Ethereum (ETH)'s largest liquidity retention protocol by market capitalization.
Martinez Tells His 39,200 followers on social media platform
According to Martinez, the price of LDO could rise by about 83% from the current level.
“Keep a close eye on the $3.30 level! A sustained weekly close above this mark could be the impetus for a bullish breakout, which could push LDO towards a new all-time high at $6.”
LDO is trading at $3.27 at the time of writing.
Next is Bitcoin (BTC). Citing data from analytics platform Santiment, the trader says Bitcoin's recent rise to an eight-month high coincided with a significant whale accumulation.
“Bitcoin's recent rally above $45,000 appears to be supported by significant whale activity!
Last week, Bitcoin whales accumulated more than 30,000 BTC, coinciding with a significant increase in the number of their transactions. This accumulation may be a major factor driving the current rally!
Bitcoin is trading at $43,214 at the time of writing.
Turning to Litecoin (LTC), Martinez says the outlook for the 22 largest crypto assets by market capitalization “looks challenging.” According to a cryptocurrency trader, Litecoin may fall by about 42% from the current level.
“If selling pressure continues, LTC could see a drop to $38, which could confirm a bear flag formation.”
Litecoin is trading at $65.19 at the time of writing, down 43% from its 2023 high of $115 reached roughly a month before the cryptocurrency asset halved in August.
Never miss an opportunity – sign up to get email alerts delivered directly to your inbox
Check price action
Follow us TwitterAnd Facebook and Telegram
Browse Hodl's daily mix
 
Disclaimer: The opinions expressed in The Daily Hodl are not investment advice. Investors should conduct due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please note 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 purchase or sale 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: DALE3
