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Altcoin Sherpa, a well-known analyst closely followed by cryptocurrency investors, believes that CyberConnect (CYBER), a low-volume altcoin that has challenged the market’s stagnation last week, has not yet completed its ascent.
“CYBER Falling by Crushing Short Sellers”
Altcoin Sherpa, an anonymous cryptocurrency analyst, stated on his personal account on the social media platform X that he closely follows the local asset CYBER of the social network project CyberConnect. CYBER, which increased its value by over 325% last week, reached $15.79, the all-time high since it started trading on September 1, 2023, on August 15, 2023, attracting the attention of almost the entire cryptocurrency world.
Altcoin Sherpa warned that while CyberConnect was booming, the altcoin was in a position to make a deep correction, and investors and traders should be on high alert as CYBER reaches its all-time high. He said, “This current range is an area to be cautious about. Everyone is shorting like crazy and getting crushed. After short sellers get crushed, a big drop occurs.”
As of the time this article is prepared, CYBER is trading at $6.89, down 6.22% in the last 24 hours. Data shows that the altcoin has increased its value by 88.12% in the last 7 days.
Altcoin Sherpa Expects CYBER to Rise Above 130% in the Short Term
Altcoin Sherpa predicted that with the expected correction in his game plan, CYBER will regain its upward momentum towards reaching its all-time high. Despite not giving a specific date for when the altcoin will reach this target level, the analyst stated, “It wouldn’t surprise me at all to see it eventually reach $17.”
A price movement towards $17 indicates a potential upside of at least 130% from current prices for CYBER.
