**Bitcoin, Ethereum, and SAND Metaverse Altcoin: Analysis and Predictions**
**Bitcoin Breaks Above 34-Day Moving Average**
Famous crypto trader and analyst, known as Cheds, recently shared his predictions for Bitcoin (BTC), Ethereum (ETH), and the metaverse altcoin SAND. With a Twitter following of 274K, Cheds is closely monitoring the 34-day estimated moving average (EMA) for Bitcoin. He notes that this is the first time in three months that Bitcoin has closed above the 34-day moving average. Despite this positive development, Cheds also points out that Bitcoin still appears vulnerable.
**Bitcoin Surges Above $24,000**
Bitcoin, the top cryptocurrency, is currently experiencing a surge, with a growth rate of over 6% in the past 24 hours. After several days of bearish price levels, Bitcoin has managed to break through the $24,000 level. Cheds emphasizes that the first close above the daily EMA 34 since April is a notable event and suggests some evidence of a weakening bear trend. He advises continued monitoring for any deviations.
**Ethereum Targets $1,700 Regardless of Bitcoin’s Price Action**
Cheds believes that Ethereum (ETH) is showing strength and is eyeing the $1,700 mark, regardless of Bitcoin’s price action. At the time of his tweet, the price of Ethereum was hovering around $1,596, reflecting a 3.81% increase in the past 24 hours. Cheds suggests that even if Bitcoin rejects the daily exponential moving average (DEMA) 34, it won’t hinder Ethereum’s potential rise to $1,700.
**Ethereum Appears Stronger Than Bitcoin**
According to Cheds, Ethereum seems stronger than Bitcoin at the moment. He highlights that Ethereum remains above the upper Bollinger bands, which measure an asset’s price and volatility oscillation over time. This indicates that Ethereum has been performing well and exhibits a positive trend compared to Bitcoin.
**The Recovery of SAND Metaverse Altcoin**
Cheds also weighs in on the metaverse altcoin SAND, also known as the Sandbox coin. He observes that SAND has seen a recovery following the June crash. As of now, SAND is trading at $1.41. Cheds does not provide a specific prediction for SAND’s future price action but acknowledges its recent rebound.
**Conclusion**
In summary, Cheds, a prominent crypto trader and analyst, shared his insights and predictions for Bitcoin, Ethereum, and the SAND metaverse altcoin. He notes Bitcoin’s significant breakout above the 34-day moving average, while also mentioning its vulnerable state. Ethereum, on the other hand, appears stronger than Bitcoin as it continues to trade above the upper Bollinger bands. Cheds also mentions the recovery of the SAND altcoin following a crash in June. These predictions provide valuable insights into the current state of the crypto market.
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