CyberConnect Price Analysis: CYBER Dumps 4%

CyberConnect Price Analysis: CYBER Dumps 4% – What’s Fueling the Fall?

Updated: 25 August 2023

Disclosure

Don’t invest unless prepared to lose all the money you invest. This is a high-risk investment, you shouldn’t expect to be protected if something goes wrong.

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CyberConnect (CYBER) price dropped significantly over the last several days. During the first half of the previous week, the token fluctuated between $4 and $4.50, going from the support to the resistance several times.

The token showed that it could grow, and the bulls sought to drive it further several times, as evidenced by the fact that it ventured beyond the resistance at $4.50 several times during this period.

The price showed strength between August 20 and 21, when it was constantly just below the resistance level, while breaching it three times, although only briefly before returning down.

After getting rejected once on August 21, the price saw a robust bullish surge of $5.371 on August 22, although it could not remain at this level long.

Before the day ended, the token returned at $4.50. However, this time, the former resistance started acting as a support, keeping CYBER from heading further down.

It broke eventually, in the early hours of August 23, when the price dropped again. At first, CYBER’s value sank to $4, but the old support broke the next day, August 24. Since then, the token kept dropping, slowly but surely, to $3.72, which is where it sits at the time of writing.

What is Next For CYBER?

CyberConnect’s market cap is currently at $41 million, over 8% lower than 24 hours ago. Meanwhile, its daily volume dropped by over 27%, currently at $43.4 million.

Analysts pointed out that the token’s drop was expected after it broke the red trendline on August 22, when the price dropped below $4.33.

At that moment, the bullish scenario became invalid. According to new predictions, the price could retest to the red trendline, as seen in the chart above.

It will likely be unsuccessful, and further dump should be expected. This leaves room for day traders and scalpers to benefit, but experts are convinced that the price is bound to see other losses.

CyberConnect Warns Users of Fake Airdrops

According to a recent warning published on X (formerly Twitter) by CyberConnect itself, there is a new wave of scams claiming to offer CYBER airdrops. This is a relatively common scam in the crypto industry, which typically circulates on social media, especially X.

🚨 SCAM ALERT 🚨

Please beware of a fake CYBER airdrop making rounds on social media.

Do not interact with any website or tweet promoting the claiming of CYBER.

All our verified links & resources can be found here 👇🏼https://t.co/GPlAf0Jc6G

— CyberConnect (@CyberConnectHQ) August 21, 2023

The project still warned users not to interact with any tweets or websites promoting the claiming of CYBER tokens. It also provided a list of safe, verified links and resources for users to interact with.

Launchpad XYZ Presale Enters 20% Bonus

One of the most popular presales is Launchpad XYZ (LPX), which recently introduced a 20% bonus for all who have already contributed to the presale and new buyers.

The token bonus will drop 1% every seven days, so potential buyers are advised to move fast if they wish to catch this opportunity.

The platform has already raised $1.4 million; its token, LPX, is selling for $0.0445. Users can buy the token in exchange for ETH, BNB, or USDT.

Those who wish to buy it in exchange for fiat can also do that through their credit or debit card.

The project attracted the attention of developers and opportunity seekers, as it offers critical tools and training needed to learn all it takes to be a successful Web3 developer and entrepreneur.

It claims it can empower users and help them maximize their profit potential.

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