Launched on August 15, CyberConnect (CYBER) is currently one of the best-performing crypto projects. The token’s price has increased 20.3% in the past 24 hours and is up 117% in the weekly chart.
CYBER is currently ranked 240 on CoinGecko based on its market capitalization. The platform enables developers to create social tools that prioritize user ownership of digital identities, content, and interactions.
Upon launch, the token briefly reached a price of $17.70 but didnot close there. CYBER currently faces resistance at $9,326, with support at around $7.99. It should be noted that the current level does not have much volume. Therefore, the protest may not be able to sustain itself.
CYBER 1D Price Chart, Source: CoinMarketCap
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Can CyberConnect continue its rally?
According to the asset’s Fibonacci Retracement, its price could drop to around $6,464 before making any further moves. However, the $6,464 level doesn’t have much volume either, so a drop to around $4.50, which has significant volume.
While CyberConnect’s (CYBER) MACD (Moving Average Convergence Divergence) shows the bulls dominating, its RSI (Relative Strength Index) indicates the asset is on the move. into the oversold zone. At the time of writing, the RSI stands at 72.95. It remains to be seen how the token moves from here on out. However, investors should note that the token has dropped 5.8% in the past hour.
However, the project received a positive rating on InvestorObserver’s sentiment score. However, sentiment scores only provide a quick, short-term view of the token’s recent performance. With that said, the project’s focus on identity ownership can be a hit with users.
CyberConnect (CYBER) also has several listings, including on Binance, the world’s largest exchange by trading volume. The token has also been listed on the Korean exchange Bithumb KRW market.
At the time of writing, CyberConnect (CYBER) is trading at $8.68.
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