Here’s What’s Next for Decentraland, The Sandbox and Elrond, According to Crypto Analyst Michaël van de Poppe


Cryptocurrency analyst and dealer Michaël van de Poppe is warning merchants towards shopping for Decentraland (MANA), The Sandbox (SAND) and Elrond (EGLD) at their present costs.

Van de Poppe tells his 148,000 YouTube subscribers that following the “epic runs” of those three altcoins, it’s time for traders to take income in Decentraland, a virtual-world blockchain; Elrond, a scalable blockchain; and The Sandbox, a gaming platform.

“…if you are in those projects, I think the point has come to actually take profits, especially when it comes to MANA and SAND. Those have been running heavily. You have to take profits before a heavy correction starts to take place because at this point the downwards momentum might be heavier than the upwards momentum.”

Looking on the Elrond/Bitcoin (EGLD/BTC) chart, the crypto analyst says that purchasing alternatives are gone till a correction adjusts costs to the 0.005 BTC ($291) and 0.006 BTC ($349.20) stage.

At time of writing, Elrond is buying and selling at $427 whereas Bitcoin is exchanging palms at $58,200.

“If you’re looking for for any commerce alternative proper now, I believe the alternatives are fairly gone. But the [EGLD/BTC] chart itself says that each stage will get a phenomenal retest going down right here earlier than it begins to proceed.

So I’m any of those two ranges [between 0.005 BTC and 0.006 BTC] to take any entry from, based mostly on a every day timeframe.”

Van de Poppe says he’s hoping to select up SAND if it retraces all the way down to about 0.00007 BTC ($4.07). The asset is buying and selling at $7.27 at time of writing.

“So SAND, I’m not interested in trading this one at all. I’m going to look at anywhere in this region [below 0.00007 BTC] for any scalp opportunities.”

Decentraland’s MANA is buying and selling at $5.10 at time of writing. According to the crypto analyst, MANA might drop to round 0.000055 BTC ($3.20) the place it might current alternatives for longer-term trades. He recommends on the lookout for scalping alternatives if it begins buying and selling beneath 0.00007 BTC ($4.07).

“You can start looking for scalp rates here [0.00007 BTC]. But more likely, we’re going to get into this region here [around 0.000055 BTC] where you want to take some trades.”



l
Check Price Action

Don’t Miss a Beat – Subscribe to get crypto e-mail alerts delivered on to your inbox

Follow us on Twitter, Facebook and Telegram

Surf The Daily Hodl Mix

&nbsp
Check Latest News Headlines

 

Disclaimer: Opinions expressed at The Daily Hodl usually are not funding recommendation. Investors ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your personal threat, and any loses it’s possible you’ll incur are your accountability. The Daily Hodl doesn’t suggest the shopping for or promoting of any cryptocurrencies or digital property, neither is The Daily Hodl an funding advisor. Please notice that The Daily Hodl participates in internet affiliate marketing.

Featured Image: Shutterstock/Gorgev



Synesy.org