Top Trader Predicts Major Move for Ethereum-Based Altcoin
A crypto trader who accurately predicted Bitcoin’s bottom in 2018 is now eyeing a massive move for an altcoin that’s about to rally hard. The pseudonymous analyst Bluntz, with over 228,700 followers on Twitter, believes that Lido DAO (LDO) is ready to soar after a retest. Bluntz uses the Elliott Wave theory in his technical analysis and turned bullish on LDO earlier this month. At the time of writing, Lido is trading at $2.44, up 2.5% in the last 24 hours.
Optimism for the Broader Crypto Market
Bluntz also expressed optimism about the broader crypto market following a decline in the US dollar index (DXY). He believes that a weaker dollar will be beneficial for risk assets like Bitcoin, which could experience strength due to the decline in DXY. Earlier this month, he stated that DXY appeared to have reached a market top and predicted it would decline to 98 by May 2024, boosting risk assets like Bitcoin.
Hot Take
The crypto trader Bluntz has made a bold prediction for Lido DAO (LDO), believing it’s on the verge of making a massive move to the upside. With his track record of accurately predicting Bitcoin’s bottom in 2018, his bullish outlook on LDO is worth considering.
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