Token

Resistance

Cyber

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/cyberconnect-token-price-dynamics-amid-unlock-event-and-market-trends/" data-wpel-link="internal">CyberConnect Token Price Dynamics Amid Unlock Event and Market Trends</a><br></p>
<p style="text-align: justify">CyberConnect (<strong>CYBER</strong>) price has been moving within a rising parallel channel since October, displaying a consolidative phase in line with the crypto market’s upward trend. However, the recent correction on January 8th tested the lower boundary of this channel, leading to a closer examination of possible future developments.</p> 
<h2 style="text-align: justify" id="bear-catalyst-token-unlock-event">Bear Catalyst: Token Unlock Event</h2> 
<p style="text-align: justify">CyberConnect will face a significant event on Sunday, January 14th, with the unlocking of 1.26 million CYBER tokens equivalent to $9.65 million. This unlocking, representing about 8.5% of the asset supply, offers a potential bearish catalyst.</p> 
<p style="text-align: justify">The unlocked tokens allocated to the community treasury, ecosystem development, and public sale investors could trigger profit-taking among investors, leading to selling pressure on the <strong>CYBER</strong> price. However, it is not certain that this event will definitely cause a price drop. Sometimes, token unlocks can coincide with periods of price increases.</p> 
<h2 style="text-align: justify" id="analyzing-bear-scenarios">Analyzing Bear Scenarios</h2> 
<p style="text-align: justify">In the context of crypto markets, token unlocks are generally seen as bearish events because they increase selling pressure by adding extra tokens into circulation. The bearish thesis for <strong>CYBER</strong> suggests a potential 10% drop to $7.12 and continued downside risks towards the next support at $6.60.</p> 
<p style="text-align: justify">The Relative Strength Index (RSI) is trending south, indicating a potential loss of momentum. A continued southward RSI trajectory, crossing below the signal line, would strengthen the bearish trend.</p> 
<h2 style="text-align: justify" id="bullish-expectations-and-resistance-levels">Bullish Expectations and Resistance Levels</h2> 
<p style="text-align: justify">While the potential for a bearish scenario emerges, a contrary bullish perspective anticipates a breakout above the channel and surpassing the psychological level at $9. If the bulls gain dominance, the <strong>CYBER</strong> price could target the $9 psychological level and potentially reach the highest level of $9.69 last observed on January 3rd.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-302198 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/01/cyber-cointurk.png" alt="" width="1576" height="662"></p> 
<p style="text-align: justify">For investors navigating the CYBER market, staying alert has become very important. Monitoring the token unlock event and its aftermath can provide insights into short-term price movements. A drop below the support level of $7.60 could indicate increased selling pressure, potentially leading to a 10% decrease.</p> 
<p style="text-align: justify">Conversely, a resilient stance by the bulls could pave the way for a sustained upward trajectory. Breaking above the channel’s upper boundary could open paths for CYBER to reach the $9 psychological turning point and potentially reclaim the highest level of $9.69.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/cyberconnect-token-price-dynamics-amid-unlock-event-and-market-trends/" data-wpel-link="internal">CyberConnect Token Price Dynamics Amid Unlock Event and Market Trends</a></h5>

CyberConnect Token Price Dynamics Amid Unlock Event and Market Trends

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