A closely watched crypto analyst believes that a low-cap altcoin that braved the market doldrums last week is not done rising.
The pseudonymous analyst Altcoin Sherpa tells his 196,200 followers on the social media platform X that he keeps a close eye on the altcoin CyberConnect (CYBER) social network.
The altcoin caught the attention of crypto traders when it surged more than 326% last week to a record high of $15.79 on September 1.
While CyberConnect was in the midst of its explosion, Altcoin Sherpa warned that the coin was able to witness a profound corrective move, saying that traders should be on high alert as CYBER recorded an all-time high.
“This current area is a place to watch out… Everyone short circuits like crazy and gets run over, and then you see a huge mess later on.”
At the time of writing, CYBER is trading at USD 7.32, down more than 40% in the past 24 hours.
With the correction in play, Altcoin Sherpa predicts that CYBER will eventually regain its bullish momentum on its way to a new all-time high. However, it is unclear when Altcoin Sherpa expects CYBER to reach its goal.
“But [it] I wouldn’t be surprised at all if this eventually goes to $17.”
A move towards the $17 level indicates upside potential of over 132% from current prices for CYBER.
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