Investors Monitor Key Token Unlock Events

Posted by BH NEWS 2 months ago

In the cryptocurrency market, investors pay close attention to token unlock events. Data from Token Unlocks indicates that $374.27 million worth of tokens will be unlocked in the next week. Notably, the native token of CyberConnect, CYBER, is set for a significant unlock event tomorrow, drawing considerable interest.

Contents hide
1 What Is the CYBER Token Unlock Event?
2 How Does CYBER’s Chart Look?
3 Key Insights for Investors

What Is the CYBER Token Unlock Event?

Token Unlocks has reported that $374.27 million worth of tokens are scheduled to be unlocked next week, marking one of the most substantial events recently. Among these, the CYBER token unlock from CyberConnect, a Layer-1 blockchain project, is particularly noteworthy.

Scheduled for August 14 at 15:00, this event will release CYBER tokens equivalent to 8.54% of the total supply, valued at $6.26 million. With anticipation growing, CYBER was trading at $3.15 at the time of writing. This event is among the most anticipated in the coming days.

How Does CYBER’s Chart Look?

The daily chart of CYBER reveals a descending channel pattern. After a breakdown at the support line in early August, CYBER hit the $2.23 support level and subsequently rebounded, continuing within the formation area. The recent movement above the EMA 9 (blue line) is particularly significant.

Key support levels on the daily CYBER chart are $3.03, $2.61, and $2.23. A daily close below $2.61 could result in a loss of momentum. Conversely, resistance levels to watch are $3.83, $4.45, and $5.07, with a close above $3.83 potentially boosting the price.

Key Insights for Investors

  • CYBER’s token unlock event on August 14 could impact its price significantly.
  • Support levels to monitor are $3.03, $2.61, and $2.23.
  • Resistance levels to watch are $3.83, $4.45, and $5.07.
  • A daily close above $3.83 could indicate a positive price movement.
  • Investors should closely follow CYBER’s market trends post-unlock.

In conclusion, the upcoming token unlock events, especially CYBER’s, are critical for market participants. Monitoring these developments can provide valuable insights for making informed investment decisions.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.