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The CyberConnnect token $CYBER has attracted significant attention after posting notable gains in recent weeks. The token went live on Binance on August 15, at 08:00 EST, with only 3% of the token supply released on the exchange. The listing mirrors a significant milestone for the CyberConnect project.
Shortly after this announcement, CYBER pumped from $3 to over $6, representing almost 80%. But this spike was short-lived as the coin nosedived from $6 to $4.92. CYBER’s price has declined over 47% in the last 24 hours.
However, CYBER has still up over 170% in the past seven days despite this price drop. In addition, its 24-hour trading volume has increased by over 12314% and now stands above $200 million.
Can CyberConnect Sustain Bullish Momentum
The CyberConnect 30-Minute chart shows the coin is in a consolidation phase, with its price oscillating between $4 and $5. On the 30-Minute chart, CYBER/USD trades above its Moving Average (MA), signifying a bullish market sentiment and potential positive momentum.
This observation suggests that the current market price exceeds the average price over a 30-minute timeframe, indicating a period of increased buying pressure and upward movement.
Traders often interpret this situation as an opportunity to enter or hold positions with the expectation of further price appreciation.
The MA can serve as a critical support level that potentially holds any price retracements. The Moving Average Convergence/Divergence is above the signal line, demonstrating that the asset’s momentum is positive. However, the fading green histogram bar suggests a weakening buying strength with an imminent consolidation horizon.
An RSI value of 43 suggests that the momentum is neither strongly bearish nor bullish. It’s in a range that indicates some downward pressure on the price, but it’s not significantly oversold.
Also, the RSI value below 50 can be interpreted as a potential trend weakening, indicating that selling pressure might be present.
This market situation aligns with the fading green histogram bar you mentioned in the MACD analysis, further supporting the notion of a potential slowdown in bullish momentum.
This situation often prompts traders to exercise caution and consider the possibility of a shift in market sentiment. Cryptocurrency markets are highly volatile, so a holistic analysis and risk management approach is advisable.
Factors That Could Affect CyberConnet Price
Animoca Brands and CyberConnect, pioneers in the blockchain-based social network sphere, have joined forces to create a decentralized social component for Mocaverse.
Mocaverse, an NFT collection established by Animoca Brands to link the various companies within its web3 investment portfolio, will benefit from this collaboration.
Positive outcomes from the collaboration, such as successful integration of the decentralized social layer, increased adoption of Mocaverse, and a growing interest in the NFT collection, could lead to a positive price impact.
On the other hand, if challenges arise in implementing the technology or if the market sentiment turns negative, it could harm the price. Meanwhile, CyberConnect recently introduced the CyberAccount V3 version, a battle-tested ERTC-4337-powered brilliant account.
The successful implementation of new technologies could demonstrate the project’s capabilities and lead to a higher valuation in the eyes of the market.
However, it’s important to note that predicting price movements in the cryptocurrency market is highly complex and speculative. While the CYBER coin is causing a buzz in crypto, this new Web3 project also waves as its presale smashes significant milestones.
Best CyberConnect Alternative, Launchpad XYZ Raises $1.2Million, Road to Exchange Listing.
Launchpad XYZ, still in the presale stage, has realized over $ 1.2 million by selling its native token, $LPX.
The objective of Launchpad XYZ revolves around making the entire Web3 ecosystem accessible to investors. The platform offers distinctive utilities for identifying investment prospects, trading chances, and restricted entry to novel cryptocurrency introductions and informative materials.
A standout highlight of Launchpad XYZ is its Apollo AI assistant. Apollo is designed to assist traders in making well-informed choices by amalgamating sentiment from social media, crypto market updates, and technical analyses provided by skilled traders.
Moreover, Launchpad XYZ is set to provide investors with entry to a specialized charting platform and trading terminal, catalogs of trending tokens, and automated assessment systems to evaluate projects.
These tools effectively reduce the time required for decision-making in a swiftly evolving market environment.
To access these comprehensive features, investors will require Launchpad XYZ’s native $LPX token. The current offering price for $LPX is $0.0445, representing a 40% reduction from the original price of $0.07.
This gives investors a remarkable opportunity to attain significant returns by participating in Launchpad XYZ’s presale phase. With the imminent price increase just a few days away, investors should seize this opportunity to secure the most favorable $LPX price and avoid missing out.
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