-
VENOM unlocking at 12.67% sparks bullish momentum and tests critical resistance levels
-
YGG is showing mixed signals. The key resistance at $0.47 may limit further gains.
-
AGIX’s 316% surge in volume indicates strong market demand amid bullish price trends.
Token Unlocks’ data indicates that a significant amount of tokens worth $48.53million will enter the market during the week of September 23rd-29th. These cliff unlocks will likely shake up the market dynamics of several key tokens including $VENOM ($YGG), $AGIX ($FET), $ENA ($GAL), and $YGG ($AGIX).
As the supply and demand of tokens are affected by the new supply, such unlocks can create volatility.
VENOM ($VENOM), Examining Price Trends and Support levels
VENOM is the leader in unlocking tokens with a 12.67% share. This unlocks tokens worth $25.11 millions. VENOM is currently trading at $0.1068, an increase of 1.31% in the last 24 hours. The chart shows the initial price fluctuations, followed by a rebound. The overall trend shows steady growth after recovering from the low of $0.1056.
Support levels at $0.1056 or $0.1060 are important, as buyers may step in to take advantage of a possible dip. VENOM is facing resistance around the $0.1070 level, which is a key barrier for continued upward movement. VENOM’s immediate challenge is to break through this resistance level in order to maintain its upward movement.
The 1-day RSI for VENOM is 22.25, which indicates that the asset may be oversold. The 1-day MACD shows a bearish trend, with the MACD line trading under the signal line.
Yield guild games (YGG) : Short-term Momentum and Key Support levels
Yield Guild Games has unlocked tokens worth $6.57 million, which is 3.69% of all weekly cliff unlocks. YGG currently trades at $0.4635. This represents a significant 7.31% rise in the last trading day. This rise indicates a growing bullish sentiment. However, traders should be aware of short-term volatility.
Support levels include $0.4316 where the price has previously rebounded and $0.44 which was a consolidation area during earlier trading sessions. YGG has been struggling to break through the $0.47 resistance level. A successful break above the resistance level may signal further bullish movement.
YGG’s technical indicator gives mixed signals. The 1-day RSI stands at 60.04 and places the asset in overbought territory. The MACD is also trading above the signal line. This suggests a positive short-term trend. Traders should be on the lookout for signs of reversal as the asset approaches key resistance.
SingularityNET: Volume Surge Signals Strong Interest
SingularityNET: Volume Surge Signals Strong Interest
SingularityNET’s (AGIX), which represents 1.62% of all tokens unlocked this week, has unlocked $5.73 Million worth of tokens. AGIX currently trades at $0.7019. This is up 9.45% over the last day. AGIX’s short-term trend is bullish with strong buying interest driving the price higher.
AGIX’s support levels are $0.6418 and $0.565. Both levels show strong buying interest when the market dips. AGIX needs to overcome the resistance levels of $0.73 and $0.75 in order to maintain its bullish trend. If AGIX is able to break through these resistance levels, it could lead to further price appreciation.
AGIX’s volume has increased by 316%. This is a sign of a growing market. The RSI at 44.71 indicates that the token is not overbought or oversold and has room for further movement. The MACD is also above the signal line indicating that the bullish momentum could continue.
Watch out for FET, ENA and GAL
Watch out for FET, ENA and GAL
Artificial Superintelligence (FET), representing 0.14%, has unlocked $5.61 Million. FET’s price has risen by 4.11%, to $1.57. The token fluctuated between $1.47 to $1.57. Traders can confirm the trend direction by looking for a break out beyond these levels.
The price bounced back at $1.47-1.50. This is the key support level. If this level is maintained, FET’s upward movement could continue. The price is still struggling to break through the resistance zone between $1.57 and $1.60.
This site is for entertainment only. Click here to read more
