- Influential crypto analyst Altcoin Sherpa predicts that CyberConnect (CYBER) will rebound to hit a new all-time high after its recent price correction.
- Despite plunging 40% in 24 hours, the social networking altcoin is expected to rise to $17, representing a 132% potential upside from its current valuation.
A Rebound in Sight for CyberConnect?
Last week witnessed a staggering rally in the low-cap social networking altcoin CyberConnect (CYBER). Contrary to the prevailing bearish market sentiment, this digital asset skyrocketed over 326%, peaking at an all-time high of $15.79 on September 1st. However, this meteoric rise triggered alarms for many in the crypto world. One of the notable voices of caution was the pseudonymous analyst Altcoin Sherpa, who boasts a sizable following of 196,200 people on social media platform X.
During CyberConnect’s surge, Altcoin Sherpa issued a warning, alerting traders that the coin was ripe for a sharp downturn. He pointed out that CYBER’s ascending trajectory had put it in a precarious position.
“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,”
he advised. Indeed, the altcoin underwent a significant correction soon after, plummeting more than 40% within a 24-hour period to trade at $7.32 at the time of writing.
However, the correction does not spell doom, according to Altcoin Sherpa. The analyst contends that this is likely a temporary setback, and that CYBER has the potential to regain its bullish trajectory. He boldly predicts that CyberConnect will not only recover but also ascend to a new all-time high, specifically targeting a price point of $17. While the timeline for this price milestone remains unspecified, the implication is clear: CyberConnect could see an upside of more than 132% from its current valuation.
While Altcoin Sherpa’s prediction is certainly optimistic, it’s worth noting that the crypto market is notoriously volatile, and CYBER’s future remains speculative. Nevertheless, the confidence expressed by a seasoned analyst like Altcoin Sherpa has undeniably added a layer of intrigue to the trajectory of this low-cap altcoin, leading many to keep an eager eye on its future movements.