Crypto analyst and influencer Lark Davis is naming his top altcoin picks.
At the top of the list is Ethereum (ETH) which he notes is a buy on dips as the leading smart contract platform launches ETH 2.0.
“In anticipation of the good news, Ethereum has been going crazy. The Ethereum/BTC pair absolutely parabolic over the last few days… The target here is 0.04 Bitcoin per Ethereum.
We could be going higher than that. Now, the dollar pairing for Ethereum obviously going crazy but it still requires a 35% move higher to even test that major resistance at $823. Now, there’s just a lot of clear air between here and $823.”
Number two is Chainlink (LINK). According to Davis, the decentralized oracle network is starting to regain its bullish momentum.
“I think that we can see Chainlink hitting $18 from here on this particular breakout… I do wonder if I’m kind of setting my goal for Chainlink here too modestly since it has really just crossed a mega bullish cross here on the weekly MACD. We see that bullish cross happening for the first time since April when it ran from $3 to $20.”
At number three is Uniswap (UNI), which Davis says is currently consolidating inside a large ascending triangle with a breakout target of $5.75. The crypto influencer notes that UNI is still ranging inside the triangle so traders should wait for either a confirmed breakout or a retest of support.
The fourth crypto asset on Davis’ list is under the radar decentralized finance (DeFi) player Bonded Finance (BOND).
“It’s going to be bringing in loaning capabilities for smaller cap altcoins while at the same time offering high APYs (annual percentage yields) in accordance with risk. They’re also launching the Bonded Index, which will work with a weighted pool of different altcoins… Bonded Finance is also issuing what is being called the lock index, allowing teams to get lines of credit in exchange for time locks on their tokens.”
The last coin on the list is Coin DeFi, a new decentralized exchange that has next-generation features.
“Coin DeFi is a decentralized exchange but one which is looking to leverage atomic swap technology to enable decentralized swapping across chains, which will allow for swaps between Bitcoin and Ethereum and other different tokens.
I would expect that being a new decentralized exchange, this is definitely one that could have some real momentum behind it, especially the decentralized exchanges that have done well are the ones that provide incentives to provide liquidity, which Coin DeFi will also be doing. Token holders will also benefit by earning fees on the platform proportional to the amount of tokens they hold.”