💎 CYBER has recently exhibited significant market dynamics, breaking out of the ascending channel pattern, which indicates a continuation of bullish upward movement.
💎 However, before continuing its ascent, the price is likely to undergo a retesting phase at the support trendline around the $10.5 area. Following this retest, CYBER may resume its upward trajectory, probability of reaching our target area.
💎 During the retesting phase, it's crucial for CYBER to bounce off the support trendline to confirm the bullish momentum. However, if CYBER fails to bounce and closes below the support trendline, this could signal a false breakout. In such a scenario, the price may retreat downwards, potentially reaching the demand area of around $8.3.
💎 At the demand area, it's imperative for CYBER to bounce, as it serves as both a historical support level and the lower boundary of the ascending channel. If CYBER fails to bounce and breaks below the demand area and the support line, this could mark a shift to bearish momentum.
💎 In this case, the bullish trend would be broken, and the price could continue moving downwards, potentially reaching even lower levels.
💎 However, before continuing its ascent, the price is likely to undergo a retesting phase at the support trendline around the $10.5 area. Following this retest, CYBER may resume its upward trajectory, probability of reaching our target area.
💎 During the retesting phase, it's crucial for CYBER to bounce off the support trendline to confirm the bullish momentum. However, if CYBER fails to bounce and closes below the support trendline, this could signal a false breakout. In such a scenario, the price may retreat downwards, potentially reaching the demand area of around $8.3.
💎 At the demand area, it's imperative for CYBER to bounce, as it serves as both a historical support level and the lower boundary of the ascending channel. If CYBER fails to bounce and breaks below the demand area and the support line, this could mark a shift to bearish momentum.
💎 In this case, the bullish trend would be broken, and the price could continue moving downwards, potentially reaching even lower levels.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want to trade like a PRO without the 15+ year learning curve?
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
🫳Steal the edge - follow seasoned team of traders at mycryptoparadise.com (FREE)
✅🎖️Or go full throttle with PRO strategy + killer entry/exit signals - t.me/MCPsupportbot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.