South Korean Exchange Listing Boosts CYBER and FET Altcoins, Driving Prices Up Over 7%

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South Korean Exchange Listing Boosts CYBER and FET Altcoins, Driving Prices Up Over 7%

In the midst of a cryptocurrency market that has seen a weakening trend, two altcoins, CYBER and FET, have experienced remarkable gains over the past 24 hours. This surge can be attributed to the recent listing of these coins on a South Korean exchange, which has created a buzz among traders and sparked increased trading volumes.

Fetch.ai (FET) recorded a 7.18% gain within a 24-hour period, reaching a trading price of $0.2338. Notably, the altcoin witnessed a massive 169.45% increase in its trading volume, with a total volume of $36,412,611. Market analysts have linked this surge to NVIDIA’s renewed focus on the Artificial Intelligence (AI) sector. As NVIDIA intensifies its efforts in the AI field, it is expected that AI-themed cryptocurrencies like FET will experience significant price movements.

From a technical standpoint, FET buyers seem to be enjoying short-term momentum, indicated by the positioning of the 9-day Exponential Moving Average (EMA) line above the 20-day EMA line on the daily chart. This upward momentum could potentially lead the cryptocurrency’s price to break through the downwards trend line that has persisted for months. If FET manages to surpass the $0.2420 mark, it may pave the way for further upward movement towards the next resistance level at $0.290 in the coming weeks. However, if FET fails to breach the multi-month trend line, it could retest the support level at $0.1715.

On the other hand, CyberConnect (CYBER) displayed an impressive 12.62% increase in its price over the past day, reaching a value of $8.70. This positive daily performance contributed to CYBER’s overall weekly performance, which has seen a staggering growth of +117.81%. This surge in price can be attributed to the recent listing of CYBER on Bithumb, a South Korean exchange known for its high trading activity.

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CYBER managed to break above the key threshold of $5.550 in the past 48 hours. It also attempted to surpass the next key price point at $9.405 but fell short. If CYBER fails to close a 4-hour candle above this benchmark within the next 12 hours, it may experience a correction back down to $5.550.

Overall, the listing of CYBER and FET on a South Korean exchange has significantly impacted their prices and trading volumes. These altcoins have managed to defy the weakening trend observed in the cryptocurrency market, driven by factors such as increased trading activity and renewed focus on AI by major companies like NVIDIA. Traders and investors will closely monitor these coins for further price movements and potential opportunities for profit.

The article South Korean Exchange Listing Boosts CYBER and FET Altcoins, Driving Prices Up Over 7% highlights the recent success of CYBER and FET in a market that has been experiencing weakness. Their listing on a South Korean exchange, combined with factors like increased trading volumes and attention from major companies, has contributed to their impressive price gains. As traders and investors continue to monitor these altcoins, the potential for further growth remains high.

Frequently Asked Questions (FAQs) Related to the Above News

What are CYBER and FET altcoins?

CYBER and FET are altcoins, which are alternative cryptocurrencies to Bitcoin. Altcoins are created as alternatives to Bitcoin and often serve different purposes or have unique features.

Why did CYBER and FET experience significant gains?

The recent listing of CYBER and FET on a South Korean exchange played a significant role in their price gains. This listing generated attention and buzz among traders, leading to increased trading volumes and driving up their prices.

What is the connection between FET and NVIDIA?

Market analysts have linked FET's recent surge to NVIDIA's renewed focus on the Artificial Intelligence (AI) sector. As NVIDIA intensifies its efforts in AI, it is expected that AI-themed cryptocurrencies like FET will experience significant price movements.

What technical indicators suggest potential upward momentum for FET?

From a technical standpoint, the positioning of the 9-day Exponential Moving Average (EMA) line above the 20-day EMA line on the daily chart indicates short-term momentum for FET. This upward momentum may lead to a break in the downwards trend line and potentially push the cryptocurrency's price towards the next resistance level at $0.290 in the coming weeks.

What factors contributed to CYBER's price increase?

CYBER's price increase can be attributed to its listing on Bithumb, a high-trading-activity South Korean exchange. This listing generated significant interest and contributed to CYBER's impressive daily and weekly growth.

What key price thresholds have CYBER and FET surpassed or attempted to surpass?

CYBER successfully broke above the key threshold of $5.550 and attempted to surpass the next key price point at $9.405. However, it fell short of surpassing this benchmark. If CYBER fails to close a 4-hour candle above $9.405 within the next 12 hours, it may experience a correction back down to $5.550.

How have CYBER and FET performed compared to the overall cryptocurrency market?

While the overall cryptocurrency market has been experiencing weakness, CYBER and FET have managed to defy this trend and achieve remarkable gains. Their listing on a South Korean exchange and factors like increased trading volumes and attention from major companies have contributed to their impressive performance.

What can traders and investors expect in terms of further price movements for CYBER and FET?

Traders and investors will closely monitor CYBER and FET for further price movements. The potential for further growth remains high, but it is important to consider factors like market conditions, trading activity, and news developments that could influence their prices.

Please note that the FAQs provided on this page are based on the news article published. While we strive to provide accurate and up-to-date information, it is always recommended to consult relevant authorities or professionals before making any decisions or taking action based on the FAQs or the news article.

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