Bitcoin, Ethereum, and SAND Turning Bullish – Expert Trader
Famous crypto trader and analyst tweeted with some predictions for Bitcoin, Ethereum, and SAND metaverse altcoin today.
Crypto trader who calls himself Cheds tweeted today to his 274K Twitter followers that he is observing the 34-day estimated moving average (EMA) for Bitcoin (BTC). He elaborates that this is the first time in three months Bitcoin has closed above the 34-day moving average. He further said Bitcoin, however, still looks vulnerable.
The top cryptocurrency, BTC is surging at the moment and it is up above 6% during the past 24 hours. The price of Bitcoin managed to pass the $24,000 level today after many days of bearish price levels.
“BTC notable – first close above daily EMA 34 since April.
Some evidence of weakening bear trend – continue to monitor for deviation.”
Ched then reveals that Ethereum is coming strong eyeing the $1,700 mark regardless of Bitcoin price action. The price of Ethereum is hovering around $1,596 with a 3.81% rise in the past 24 hours.
“$1,700 still makes sense even if BTC rejects DEMA 34 given relative strength.”
He summarizes his predictions mentioning he believes that Ethereum currently appears stronger than Bitcoin as ETH remains above the upper Bollinger bands. This metric measures an asset’s price and volatility oscillation over time.
Next, Cheds gives his opinion on the metaverse altcoin SAND, also called the Sandbox coin. He highlighted its recent recovery from the June crash. The asset is now trading at $1.41 at the time of writing.
What are your thoughts on BTC, ETH and SAND price actions, leave a comment in the comment section below.
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Text source: Bitcoin FT
