There have been significant developments in the cryptocurrency market this week. While Bitcoin (BTC) is struggling to hold above the $104,000 level, the positive results of the FOMC meeting and Trump’s determination to fight inflation have provided support for risky assets. One of the popular crypto analysts has managed to attract investors’ attention with the targets he set for LDO Coin. While Ethereum (ETH) is showing signs of recovery, expectations continue to rise.
An important part of the Ethereum ecosystem, LDO is the world's largest liquid staking platform and its token price is also increasing. Analyst Daan Crypto Trades evaluated LDO's chart and said that the first ETH Spot ETF application that includes staking could be made soon and that this could increase LDO's performance. The analyst emphasized that LDO's current price movements are strong and that it has the potential to rise even further by exceeding the determined levels.
LDO and many other cryptocurrencies have gained value recently. If the ETH price returns to $3,350, the probability of it rising above $3,410 increases. If Bitcoin remains stable, altcoins are likely to make more gains. Michael Poppe stated that the bullish divergence in the ETHBTC pair could indicate a larger rise.
In addition, the decline in BTC Dominance, which is a positive development for altcoins, creates a positive atmosphere in the market. Mustache stated that altcoins may rise with the breakout of the BTC.D chart.
Finally, the total value of the cryptocurrency market is around $3.59 trillion, with a trading volume of $105 billion in the last 24 hours. The cryptocurrencies that gained the most during the day were XCN, OM, JUP, and TAO Coin. While some altcoins increased by more than 20 percent, others have yet to recover from last year’s lows.
