$CYBER coin has been the #1 trending cryptocurrency on Coinmarketcap in the past week, indicating strong interest from the crypto community.
In addition, DWF Labs recently became the 11th largest holder of $CYBER after withdrawing 170K $CYBER (worth $770K) from Binance, reports LookOnChain. DWF Labs is a major crypto investment firm, so their purchase signals confidence in $CYBER’s potential. When large, influential companies like DWF Labs become top holders of a coin, it lends legitimacy and often drives up demand.
Several factors are contributing to $CYBER’s rapid increase in popularity:
- CyberConnect, the project behind $CYBER, is building a decentralized social network that gives users ownership of their data and digital identity. This web3 approach is attracting interest as an alternative to centralized platforms like Facebook.
- $CYBER enables developers to create social apps using ERC-4337/Account Abstraction. This technology makes it easy to build apps that incorporate social features.
- The recent crypto market downturn has not affected $CYBER as significantly as other coins. It is showing resilience and continuing to rally.
Top 10 Trending Cryptocurrencies | 22/8/23
— Sjuul | AltCryptoGems (@AltCryptoGems) August 22, 2023
1- #CyberConnect $CYBER
2- #Bitcoin $BTC
3- #HarryPotterObamaPacMan8Inu
4- #ShibaInu $SHIB
5- #SeiNetwork $SEI
6- #Ethereum $ETH
7- #XRP $XRP
8- #Bluezelle $BLZ
9- #Pepe $PEPE
10- #HarryPotterTrumpHomerSimpson777Inu
Source:… pic.twitter.com/akqs8kqQez
The market is showing signs of a bullish resurgence! Over the last 26 hours, we’ve seen dramatic fluctuations, with a market amplitude of 32%. For those who are night owls and have the stamina to monitor the market closely, two dip patterns have emerged since the last upward swing starting at 3.705. Even with just spot trading, you could make a tidy profit by buying low and selling high.
So, what’s next? Here’s a quick forecast. The chart’s arrows suggest two possible routes to overcome resistance. The first is a straightforward breach of the initial circle, while the second involves a minor bounce, followed by a steadying pullback, before breaking through the price level of the second circle.
Source: TradingView
For those looking to hold in the medium term, a price target of 6.26 could present a lucrative swing trading opportunity, especially if trading volume spikes. Day traders with time and energy to spare might consider tracking the peaks and troughs on 1-hour or 2-hour candlestick charts as a strategy.
Lastly, BTCUSDT has experienced minor recoveries lately, but these aren’t sufficient to confirm a bullish trend. To determine its future direction, Bitcoin needs to revisit its August 17th low of 25166. A significant volume increase at this level could indicate whether the coin will continue to decline or shift towards an upward trajectory.
As adoption continues growing, $CYBER is one cryptocurrency that seems well-positioned to see its popularity and price increase even further. The project’s innovative technology and the enthusiasm it is generating make $CYBER a crypto to watch closely in the coming months.
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