A widely followed analyst believes that Ethereum (ETH) staking service Lido ($LDO) will likely continue its bullish ascent against Bitcoin ($BTC) and the US dollar.
Pseudonymous crypto strategist Kaleo tells his 555,100 Twitter followers that $LDO looks strong and seems poised for a rally against Bitcoin ($LDO/$BTC).
“If there’s one thing I’ve learned over the past six years, it’s not to fade strength. Longing Lido before price discovery seems like a much better play than trying to long your favorite shitcoin from last cycle that’s still down 80% from the highs hoping for a bounce.”
He also says that Lido’s USD pair chart also looks bullish but notes that $LDO has been impressive as it manages to outperform Bitcoin despite the king crypto’s bullish price action this month.
“$LDO / USD chart looks similar, but important thing here is primarily that the $BTC chart looks so strong (because of how bullish $BTC is).”
Lido is changing hands at $2.56 at time of writing, up nearly 170% from its low of $0.952 at the start of the year. The $LDO/$BTC pair is trading at 0.00011203 $BTC at time of writing.
Kaleo also doubles down on his prediction that the king crypto asset is heading to $30,000.
“This is your daily reminder that $30,000 is a magnet.”
Looking at his chart, Kaleo shows Bitcoin reaching $30,000 sometime in February and rising as high as about $35,000.
At time of writing, Bitcoin is changing hands at $23,107.
Generated Image: Midjourney
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