- 1 CYBER token price showcased retracement and is close to the support zone of $7.
- 2 Buyers are trying to save the mark for a healthy comeback.
The CyberConnect (CYBER) token price reflects profit booking and hovers close to the 100-day EMA support zone. Moreover, the price action reveals short additions and the mighty bears are looking to push the token below $7 for a sharp decline. Amidst the market correction, the CYBER token price held the gains above its key moving averages for the past weeks. Now, the bulls have lost their strength and come under the bears’ dominance.
The CYBER token price slipped from the high of $9.50 and lost over 28% of gains in the recent sessions. Moreover, the token is close to the trendline support and is well poised near $7. If any pullback comes, it may retest the swing high of $9 in the following sessions. The price action depicts range-bound moves after regression from the highs and shows consolidation in the last sessions.
The cryptocurrency price was $7.10 at press time, with an intraday gain of 1.61%, showing neutrality on the charts. Moreover, the trading volume increased by 15.81% to $18.18 Million, highlighting selling pressure. The pair of CYBER/BTC was noted at 0.0001633 BTC and the market cap is $78.08 Million. Analysts are neutral and suggest that the CyberConnect (CYBER) price might attain a pullback in the following sessions.
CYBER Token on Daily Charts Reveals Neutrality
On the daily charts, the CYBER token price signifies neutrality and is holding gains on the 100-day EMA support region. Moreover, the technicals did not signal any down move and suggested that any dips would be a buying opportunity for the investors. Investors are tracking it closely and are awaiting a pullback to make fresh positions.
The Relative strength index (RSI) curve stays near the midline and reveals a positive divergence, which may lead to a rebound soon. Moreover, the Moving Average Convergence Divergence (MACD) indicator shows a convergence of the MA line with the signal line, which signifies indecisiveness. However, the CYBER price is taking support on the 38.2% Fibonacci zone and may retain bullishness soon.
CYBER Token on Weekly Charts Replicating Uptrend
On the weekly charts, the CYBER token price continues to extend upward and has glimpsed higher high swings amidst the weak global sentiments. Moreover, the token did not breach trendline support and delivered the buying momentum.
The CYBER price showcased neutrality and is holding the gains amidst the market correction. For the past weeks, the token continued to uplift the gains and has reached bullish territory, reflecting investor interest. However, the token faced profit booking and has retested the 100-day EMA mark, which led buyers in fear.
Support Levels: $7 and $6.40
Resistance Levels: $7.40 and $8
The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.
Adarsh Singh is a true connoisseur of Defi and Blockchain technologies, who left his job at a “Big 4” multinational finance firm to pursue crypto and NFT trading full-time. He has a strong background in finance, with MBA from a prestigious B-school. He delves deep into these innovative fields, unraveling their intricacies. Uncovering hidden gems, be it coins, tokens or NFTs, is his expertise. NFTs drive deep interest for him, and his creative analysis of NFTs opens up engaging narratives. He strives to bring decentralized digital assets accessible to the masses.