Van de Poppe Warns Traders For Buying SAND, MANA & EGLD At Current Prices
A top crypto market strategist and trader Michaël van de Poppe warns crypto traders that heavy correction is looming for Decentraland (MANA), The Sandbox (SAND) and Elrond (EGLD).
In a recent video Van de Poppe shared with his 148K subscribers on YouTube that in the aftermath of the “epic runs” of these three altcoins, it’s time for investors to take profits in Decentraland (MANA), Elrond (EGLD) and The Sandbox (SAND).
“…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.”
Elrond (EGLD)
Regarding Elrond/Bitcoin (EGLD/BTC) pair, Van de Poppe believes that buying opportunities are gone until the price corrects down to 0.005 BTC and 0.006 BTC levels.
At time of writing, Elrond is trading 0.007421 BTC.
“If you’re seeking for any trade opportunity right now, I think the opportunities are quite gone. But the [EGLD/BTC] chart itself says that every level gets a beautiful retest taking place here before it starts to continue.
So I’m looking at any of these two levels [between 0.005 BTC and 0.006 BTC] to take any entry from, based on a daily time frame.”
The Sandbox (SAND)
Looking into The Sandbox native coin (SAND), the analyst says he would buy the digital asset if it corrects down to about 0.00007 BTC.
At the time of writing, SAND trades at 0.0001259 BTC
“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 (MANA)
Van de Poppe also looks in Decentraland’s native token MANA, which he believes could drop down to 0.000055 BTC, where there might be opportunity for longer-term trade. Scalping opportunities could present themselves if MANA falls below 0.00007 BTC.
At the time of writing MANA trades at 0.00008763 BTC.
“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.”
