Altcoins
Crypto Analyst Bets on Shiba Inu, Cardano and Litecoin, Revealing Bullish Cryptocurrencies
Cryptocurrency researcher and analyst Trade The Flow has provided the cryptocurrency community with some trading ideas that he believes could help them be profitable despite the volatile market conditions. Interestingly, he revealed his bearish sentiment towards Shiba Inu (SHIB), Cardan (ADA)AND Litecoin (LTC) as they enunciate these business ideas.
Long/Short Pairs Trade for Shiba Inu, Cardano and Litecoin
Trade on The Flow mentioned in an X (formerly Twitter) send that long/short pair trading is something that works well in these volatile conditions. Based on this, he outlined several long/short pair trades that could be executed. First he mentioned the desire Bitcoin (BTC) and short circuit Litecoin. He said this business idea was “pure common sense.”
He further explained why investing in Bitcoin was a good idea, noting that the “market leader” just added an ETF and is recognized worldwide as digital goldOn the other hand, Flow The Trade noted that a Litecoin short which is an “old PoW dinosaur coin with no network effect and no catalyst in sight.”
The second trade idea mentioned by the crypto analyst was to long Ethereum and short Cardano. He stated that this trading idea was similar to the “Long BTC / Short LTC” operation that he had first mentioned. He said: “You want an L1 (Ethereum) that is on the verge of bankruptcy have your own ETF and with many new layers and protocols under construction.” On the other hand, he added that a short “a dead L1 (Cardano)” which according to him has “no real activity close to zero.”
Flow The Trade mentioned the desire for Pepe (PEPE) and the shorting of Shiba Inu. He noted that it is a pair trade between two big meme coins on Ethereum. He explained: “The idea is to prolong the most established meme in crypto culture (PEPE) that continues to capture a lot of market attention.” On the other hand, he suggested that short-circuiting Shiba Inu is a good idea because, in his opinion, his time has passed.
More trade ideas for long/short pairs
Flow The Trade also mentioned other long/pair trading ideas, including Pendle Wish and short-circuit ONDO. He acknowledged that it was a pair swap between two tokens with the same narratives, but noted that they had “large discrepancies in their protocol metrics.” She stated it FDV/TVL by ONDO The ratio “makes less sense” to him and he expects the FDV/TVL ratio to flip, especially as large token unlocks approach.
Wish Lido (LDO) and short circuit Ether.fi (ETHFI) is another trade mentioned by Trade The Flow. He noted that this is “more of a classic pair trade between two liquid staking protocols on Ethereum.” He explained that Lido’s TVL is 5 times that of Ether.fi, but the latter’s FDV is 1.3 times that of Lido and Ether.fi also has a low float, with a 160 million token unlock $ coming soon.
The crypto analyst said this trade is a bit riskier, but noted that ETHFI’s low fluctuation makes it “prone to more explosive price movements.”
Featured image created with Dall.E, chart from Tradingview.com