In the cryptocurrency ecosystem, one of the data points that investors closely monitor is token unlock events. According to the Token Unlocks platform, which keeps a close eye on token unlock events, tokens worth 233.44 million dollars are set to be unlocked in the next seven days. Tomorrow, the unlock event for Moonbeam’s native token, GLMR, stands out as an event that should be closely followed.
Final Hours for GLMR Token Unlock
According to data provided by the Token Unlocks platform, which shares token unlock events with its users, token unlocks worth 233.44 million dollars will take place next week, marking some of the largest token unlock events of the recent period. Among these unlocks is the GLMR token from the blockchain network Moonbeam.
The event, which will take place tomorrow (January 11) at 03:00, involves a quantity of tokens that corresponds to 0.38% of the total supply of GLMR tokens and has a market value of 1.17 million dollars. As the event approaches, investors are eagerly monitoring the process, and at the time of writing, the GLMR token was trading at 0.386 dollars. The GLMR token unlock event is a process that investors should pay close attention to.
GLMR Chart Analysis
The first notable pattern on the four-hour GLMR chart is the descending channel formation that has been in focus since December 25. After the token unlock event on December 11, GLMR surged nearly 100% but has since experienced a drop of almost 40%. The recent candlestick formations show the EMA 200 (red line) acting as resistance, suggesting a negative scenario for GLMR.
The most important support levels to watch on the four-hour chart for GLMR are; 0.3805 / 0.3671 and 0.3439 dollars, respectively. In particular, a four-hour bar close below the 0.3805 dollar level, which intersects with the Ichimoku (purple line), could lead to selling pressure on the GLMR price.
The most important resistance levels to watch on the four-hour chart for GLMR are; 0.4109 / 0.4395 and 0.4618 dollars, respectively. Especially, a four-hour bar close above the 0.4109 dollar level, which has been a significant obstacle in recent formations, will help GLMR price gain momentum.
