Legendary cryptocurrency analyst Michaël van de Poppe thinks that metaverse coin projects Decentraland (MANA), The Sandbox (SAND) and Elrond (EGLD) have reached suitable profit taking points.
Van de Poppe sets bottoms on metaverse coin list
Following the “epic run” of these three altcoins, Van de Poppe says it’s time for investors to profit on Decentraland, a virtual world blockchain:
…if you’re involved in these projects, I think the real issue is when it comes to making a profit, especially when it comes to MANA and SAND. They ran intensely. You need to take profits before a heavy correction starts to happen because at this point the downside momentum might outweigh the upside momentum.
As for the Elrond/Bitcoin (EGLD/BTC) pair, the crypto analyst says that buying opportunities are lost until a correction sets prices to the $291 and $349.20 levels:
If you are currently looking for any trading opportunity, I think the opportunities are pretty much run down. But the (EGLD/BTC) chart itself says each level goes through a nice retest that happens here before it starts moving on. So I’m looking at either of these two levels (between $272.40 and $326.88) for any entry on a daily time frame.
cryptocoin.com Van de Poppe, whose analysis we share with you, adds that he hopes to buy SAND if it returns to around $4.07:
I do not intend to trade in SAND. I’ll look at $4.07 for any opportunity.
At the time of writing, MANA is trading at $4.94 and could drop into the $3.20 region, where it could offer opportunities for longer-term trading. If MANA dips below $4.07, the analyst says buying opportunities can be sought:
You can start with a target of $3.81. But most likely 3.00 is the region you’ll want to buy.
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