Trader Michael van de Poppe advised to close positions in three tokens, which may soon enter a deep correction phase
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Trader Michael van de Poppe advised investors to close positions in altcoins Decentraland, The Sandbox and Elrond. According to the analyst, these tokens have shown significant growth and may soon enter a deep correction phase.
On November 25, the Decentraland token renewed its all-time high above $ 5.8. On November 26, the altcoin is trading at $ 4.6 (down 20% from the high). Over the month, the cryptocurrency has risen in price by 474%. According to van de Poppe, the altcoin will become attractive for purchases if it drops to $ 3.2.
Decentraland is an in-game metaverse where you can buy virtual land, create avatars and create various items.
On November 25, The Sandbox token price set a new all-time high at $ 8.4. On November 26, the cryptocurrency is trading at $ 7 (down 17% from the high). Over the past 30 days, the value of altcoin has increased by 743%. The trader claims that it is possible to accumulate a position in The Sandbox tokens when its price decreases to $ 4.
The Sandbox is an in-game metaverse where you can buy virtual land, create avatars and create various items. The project is currently under development.
On November 23, the Elrond token set a new all-time high at $ 545. On November 26, the altcoin is trading at $ 399 (down 27% from the high). Over the month, the cryptocurrency has risen in price by 45%. According to the analyst, it is worth buying an altcoin only after its price has dropped to the level of $ 291-349.
Elrond is a blockchain platform for building high performance and secure applications (DApps) based on smart contracts. Elrond's network is capable of processing up to 15 thousand transactions per second, making it one of the most productive blockchains. Transactions at Elrond are confirmed almost instantly.