Ethereum, the largest altcoin, is heading towards $1700. With the increasing momentum, altcoins are also believed to continue to rise significantly.
Rally predicted for these altcoins
Bringing the end of the Bitcoin (BTC) bull market, a crypto analyst is naming an Ethereum (ETH)-based token that he says has the potential to explode. Crypto strategist Pentoshi says that LDO, the native token of ETH staking project Lido DAO, is likely to see significant gains as it is currently trading above a key resistance level of $3.10. According to cryptokoin.com data, LDO is trading at $3.03, down nearly 3% in the last 24 hours.
The crypto analyst has also locked his radar on CRV, the governance token of stablecoin-focused decentralized exchange Curve Finance. According to Pentoshi, CRV turned bullish after breaking the $1.14 resistance on the lower time frame (LTF). At the time of writing, the CRV is trading at $1.22.
Pentoshi is also closely watching the interoperability protocol Synapse (SYN), which it says will witness extended rallies. At the time of writing, SYN is valued at $1.55 in the past day, down fractionally. As for Bitcoin itself, Pentoshi believes that BTC continues to rise after turning a previous resistance level into support.
Analyst maps these altcoins
Micheal van de Poppe, a prominent analyst, is mapping targets for some altcoins that could take a long leap in the coming days.
Chainlink (LINK)
Chainlink price is trading in a parallel channel and after the recent recovery from lower support, the price maintained a decent uptrend. Currently, after the recent recovery of more than 18%, LINK price showed the possibility of maintaining levels above the key $9.42 resistance. However, after securing these levels, the price could rise above $10 in a short time.
Phantom (FTM)
Phantom price rallied well to mark yearly highs above $0.64, but declined quickly to mark lows near $0.43. However, the price has started to recover but is currently capped below $0.6. However, the analyst believes that more downtrends are yet to come, and after this trend, a subtle bullish breakout could occur.
Polygon (MATIC)
Polygon price is trading within a steep uptrend and carries great strength to reclaim positions above $2 at the earliest. Although a few bearish candles were recorded over the weekend, the bulls again dominated the rally, triggering a rebound. However, the price could quickly find a bottom and climb above $1.6 to confirm a notable rise in the coming days.
Avalanche (AVAX)
Avalanche price started an uptrend. However, the price has been rejected multiple times from critical resistance and with the recent recovery, the token could trigger a notable rally to surpass these levels and reach the threshold above $25.
Altcoin founder explains his big goals
The founder of the proof-of-stake layer-1 blockchain Hedera (HBAR) explains the project’s goals for this year, saying that the network has managed to defy last year’s crypto winter. Mance Harmon, Hedera co-founder and CEO, lays out his ambitious roadmap for the crypto protocol in a new interview on the Paul Barron Network YouTube channel.
According to Harmon, the fundamentals of HBAR have improved over the past year despite the protracted crypto bear market. Harmon goes on to say that he believes HBAR will continue to grow in 2023 as he believes Hedera will be the first blockchain to truly solve the scalability issue in the crypto industry. In his statement he said:
“Across the industry, what the industry has yet to see is really a layer-1 scale. Scale the ability to process transactions, truly high throughput at an acceptable price point for the market, and we’ll take the next step on the road to true scale in the next 12 months.
In the network that exists today, we already have the capacity to handle 10,000 transactions per second, and it’s been there since we rebooted in the fall of 2019.”
According to Harmon, Hedera plans to add community-managed nodes in addition to those managed by council members, greatly expanding the capabilities of the blockchain. At the time of writing, this altcoin is trading at $0.089, up over 5% on the day.
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