Investors within the cryptocurrency sector are positioning themselves in anticipation of a significant token unlock event occurring tomorrow. The Manta Network’s own MANTA token is the focus of this highly watched event. The release is set to involve a substantial sum of $20.87 million worth of MANTA tokens, which represents 2.66% of the total circulating supply.
Anticipation Builds for Token Release
As the unlocking of MANTA tokens draws near, investors are keeping a close eye on the process. Notably, the MANTA token has been trading at $3.11, as enthusiasts and analysts alike speculate on the potential impact of the release. The upcoming event, which is scheduled for March 18 at 12:30, holds a notable stake in the future market movements of the MANTA token.
Technical Outlook on MANTA
Technical analysis of the MANTA token’s price chart reveals a contracting wedge formation with no significant resistance breakouts. The token’s price remains below the EMA 200, hinting at a bearish outlook. Key support levels have been identified at $3.005, $2.857, and $2.614. A close below $3.005 could signal a loss in momentum for the MANTA token’s value.
On the flip side, resistance levels to watch include $3.165, $3.316, and $3.525. Should MANTA’s price per token close above $3.165, it could indicate an upcoming bullish trend. This technical analysis serves as a guide for investors navigating through the token’s price movements around the unlock event.
The event is part of a broader trend in the cryptocurrency market, where token unlock events are closely scrutinized as they can have significant implications for token valuation and market dynamics. As such, this particular unlock is garnering a lot of attention from the investment community.