CYBER Bulls Reverse Bearish Trend: Will the Momentum Last?

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CYBER Bulls Reverse Bearish Trend Will the Momentum Last
  • CYBER’s surge to $5.68 signifies growing investor interest and potential for a $6.00 breakthrough.
  • Positive MACD hints at buying pressure, but its southward trend indicates consolidation.
  • Overbought CYBER at 78.47 on stochastic RSI signals a nearing pullback.

Despite a bearish start to the day, CyberConnect (CYBER) bulls managed to rectify the negative mood, surging from an intraday low of $4.57 to a 24-hour high of $5.68. CYBER was trading at $5.20 at press time, a 9.77% increase over the previous day’s closing price.

CYBER’s market capitalization and 24-hour trading volume increased by 9.90% and 378.56%, respectively, to $57,321,177 and $197,802,683. As the market capitalization and trade volume have increased, this indicates increased interest from investors and likely increased purchasing activity.

If bulls manage to go beyond $5.68, they may have their sights set on the $6.00 barrier. Moreover, if this level is breached, it might signal a significant psychological threshold for investors. Furthermore, the rise in trading volume suggests substantial liquidity in the CYBER market, which may soon lead to heightened price volatility.

CYBER/USD 24-hour price chart (source: CoinStats)
CYBER/USD 24-hour price chart (source: CoinStats)

Positive Moving Average Convergence Divergence (MACD) movement, at 0.04129254, reinforces the bullish stance for CYBER. This pattern implies that purchasing pressure is increasing, which might lead to a price increase. However, the MACD blue line is moving south, suggesting a probable decline in momentum that signals a brief consolidation or a potential reversal soon.

Furthermore, the Chaikin Money Flow trend with a level of 0.02 indicates an influx of money into CYBER, suggesting modest purchasing activity. While prices continue to rise, the CMF indicator is relatively weak, meaning that buying pressure may be insufficient to support a sustained uptrend. If the CMF shifts into negative territory, it might imply a surge in selling pressure and a further drop in the price of CYBER.

CYBER/USD price chart (source: TradingView)
CYBER/USD price chart (source: TradingView)

With a Fisher Transform rating of 0.69 and a crossing below its signal line, CYBER’s bullish momentum may be waning. This pattern suggests recent purchasing activity is fading, and the price may shortly begin to fall.

In addition, the 78.47 value on the stochastic RSI indicates that CYBER is overbought and may be ready for a pullback. This high rating shows that CYBER  has been rapidly rising, but it also signals that it may be nearing the end of its run. If the stochastic RSI remains at such high levels or begins to fall, it may be a signal for traders to consider taking gains or selling their holdings in CYBER.

CYBER/USD price chart (source: TradingView)
CYBER/USD price chart (source: TradingView)

In conclusion, CYBER’s recent surge signals growing interest, but caution is advised as overbought indicators suggest a potential pullback.

Disclaimer: The views, opinions, and information shared in this price prediction are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be liable for direct or indirect damage or loss.