Cryptocurrency investors are on alert as significant token unlock events are set to release $223.37 million worth of digital assets in the upcoming week. One such event is the highly anticipated release of MANTA tokens, associated with the Manta Network, which is scheduled to occur shortly. With an equivalent of 0.75% of the total MANTA supply set to be released, valued at $5.49 million, the trading price of MANTA, currently at $2.94, stands to be affected.
Manta Network Anticipates Token Surge
The impending unlock of MANTA tokens has piqued the interest of the investment community. The release involves a substantial portion of Manta Network’s native cryptocurrency, and with the event mere hours away, the market is watching closely. This dynamic could potentially lead to significant market movements, making it a critical watch for investors and market analysts.
Technical Analysis Highlights Key Levels for MANTA
The Manta Network’s token has recently experienced a price dip, but technical analysis of the two-hour chart reveals a rising channel structure that is of interest to investors. The price has tested the support level multiple times, and currently sitting below the EMA 200 suggests a short-term bearish trend. Watching for a two-hour bar close below $2.915 could signal a further downward trend, while a close above $3.096, outside of the EMA 200, may indicate an upward momentum for the MANTA token.
Investors are advised to keep an eye on critical support levels at $2.915, $2.856, and $2.802, whereas a push above resistance levels at $2.974, $3.023, and $3.096 could see the token’s value rise. The trading community remains vigilant as the Manta Network’s token unlock event approaches, ready to respond to any market shifts.
The anticipation surrounding the MANTA token unlock is a clear indication of the cryptocurrency market’s responsiveness to supply changes. Investors and traders are recommended to monitor these events closely, as they can provide opportunities for strategic trading decisions.