A widely followed crypto trader who accurately predicted the bottom for Bitcoin (BTC) in 2018 believes that one altcoin is on the verge of a massive move to the upside.
Pseudonymous analyst Bluntz tells his 228,700 followers on the social media platform X that liquid-staking service provider Lido DAO (LDO) is ready to soar after a retest.
“Perfect retest on LDO and nice three-wave move from the highs. This one is gonna send so hard when BTC catches a bid again.”
Source: Bluntz/X
Bluntz utilizes the Elliott Wave theory in his technical analysis. The Elliott Wave theory states that the main trend of the price of an asset moves in a five-wave pattern while the correction happens in a three-wave pattern.
The trader turned bullish on LDO earlier this month.
Lido is trading for $2.44 at time of writing, up 2.5% in the last 24 hours.
The trader also says that he is optimistic about the broader crypto market after a decline in the US dollar index (DXY), which keeps track of the USD’s val
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