In the cryptocurrency market, investors are keenly observing token unlock events, which can significantly impact token prices. According to Token Unlocks, a staggering $273.74 million worth of tokens will be unlocked next week. Among these, the unlock event for Aptos’ native token APT is highly anticipated.
What Is the Aptos Unlock Event?
Data reveals that Aptos will unlock $69.44 million worth of APT tokens tomorrow, marking the week’s largest unlock event. Scheduled for July 12 at 17:00, this release represents 2.49% of the total APT token supply. With the APT token trading at $6.14, investors are closely watching this event.
How Will APT Chart React?
APT’s price, which was $19 on March 26, has plummeted by nearly 70% due to a recent downtrend. The critical resistance level for APT is the EMA 9 average on the daily chart. The ongoing downtrend has hindered the establishment of a stable price structure.
Key support levels for APT include $5.96 and $5.30. A close below $5.30 could trigger new selling pressure, while a double bottom at this level might help APT gain momentum. Resistance levels to monitor are $6.55 and $7.44, with a close above $7.44 setting the next target at $9.92, the EMA 200 average.
Investor Insights
Investors should consider the following actionable insights:
- Monitor the $69.44 million Aptos token unlock scheduled for July 12.
- Watch for key support levels at $5.96 and $5.30 for potential buying opportunities.
- Evaluate resistance levels at $6.55 and $7.44 to anticipate possible price movements.
These insights can help investors navigate the volatile landscape of the cryptocurrency market and make informed decisions based on upcoming token unlock events.