Altcoin Sherpa, a well-known crypto analyst, believes that the altcoin CyberConnect (CYBER) has more potential for growth despite the recent market fluctuations. Last week, CYBER experienced a significant rally, surging over 326% to reach an all-time high of $15.79 on September 1st. Altcoin Sherpa, who has a following of 196,200 individuals on X, a popular social media platform, has been closely monitoring CYBER’s performance.
During the surge, Altcoin Sherpa cautioned traders about a potential correction. He warned that as CYBER reached an all-time high, caution should be exercised as a deep corrective move was possible. Altcoin Sherpa shared his observations with the market in a tweet, stating, “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.” The analyst provided a visual representation of his prediction showing the potential for a massive dump in the price of CYBER.
However, at the time of writing, CYBER is trading at $7.32, reflecting a 40% decline in the past 24 hours. Despite the correction, Altcoin Sherpa remains optimistic about CYBER’s future. He predicts that the altcoin will regain its bullish momentum and eventually reach a fresh all-time high. Altcoin Sherpa did not provide a specific timeframe for when he expects CYBER to hit this target, but he stated, “But [it] wouldn’t surprise me at all to see this go to $17 eventually.”
If CYBER does reach $17, it would represent a significant upside potential of over 132% based on its current price. This projection gives investors hope that CYBER’s rally is not over and that there is still room for growth.
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As with any investment, it’s important for traders to exercise caution and conduct their own research before making any high-risk investments in cryptocurrencies like Bitcoin, digital assets, or any other altcoins. The Daily Hodl, where this analysis was featured, advises readers to do their due diligence and acknowledge that transfers and trades are at their own risk. Losses incurred from investments are the investor’s responsibility, and The Daily Hodl does not provide investment advice nor endorse the buying or selling of any cryptocurrencies or digital assets.
In conclusion, Altcoin Sherpa, a crypto analyst with a substantial following, believes that the altcoin CYBER still has room to rally despite recent market corrections. While CYBER experienced a significant surge last week, it has since undergone a correction. However, Altcoin Sherpa remains optimistic about the altcoin’s future and suggests that it has the potential to reach a fresh all-time high of $17. Investors should be cautious and conduct their own research before making any investment decisions in the volatile cryptocurrency market.
