A closely followed crypto analyst believes that one low-cap altcoin that defied the market doldrums last week is not yet done rallying.
Pseudonymous analyst Altcoin Sherpa tells his 196,200 followers on the social media platform X that he’s keeping a close watch on the social network altcoin CyberConnect (CYBER).
The altcoin caught the attention of crypto traders as it rallied by more than 326% last week to an all-time high of $15.79 on September 1st.
While CyberConnect was in the midst of its explosion, Altcoin Sherpa warned that the coin was in a position to witness a deep corrective move, saying that traders should be on high alert as CYBER printed an all-time high.
“This current area is a place to watch out for… Everyone shorting like crazy and getting ran over, then you see a massive dump later on.”
At time of writing, CYBER is trading for $7.32, down over 40% in the last 24 hours.
With the correction in play, Altcoin Sherpa predicts that CYBER will eventually regain its bullish momentum en route to printing a fresh all-time high. However, it’s unclear when Altcoin Sherpa expects CYBER to hit his target.
“But [it] wouldn’t surprise me at all to see this go to $17 eventually.”
A move toward the $17 level suggests an upside potential of over 132% from current prices for CYBER.Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox
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