The cryptocurrency ecosystem closely monitors token unlock events. According to the Token Unlocks data analysis platform, tokens worth $212.47 million will be unlocked in the next seven days. Tomorrow, we are examining the unlock event for the native token ID of Space ID, a platform that offers domain services in blockchain ecosystems.
Final Hours for ID Token
According to data provided by the Token Unlocks platform, which shares token unlock events with its users, token unlocks worth $212.47 million will occur next week, including some notable unlock events. Among these unlocks is the native token ID of Space ID, which offers domain services on blockchain networks.
The event, which will take place tomorrow (March 22) at 03:00, involves an amount of the ID token that corresponds to 18.23% of its total supply and has a market value of $89.47 million. With just hours left for the event, investors are keenly following the process, and at the time of writing, the ID token was trading at $1.13. The ID token unlock event is a process that investors should closely monitor.
ID Chart Analysis
In the two-hour ID chart, the rising channel formation structure has been invalidated after a support break. Furthermore, with ID falling below the EMA 200 (red line) level, a negative scenario seems likely in the short term. Additionally, the EMA 200 level acting as resistance in the latest bar formations could be another factor increasing selling pressure.
The most important support levels to watch for ID are, in order; $1.03, $0.98, and $0.91. Particularly, a two-hour bar closure below the $0.98 level, which served as significant support during the recent rise, could cause ID’s price to lose momentum.
The most important resistance levels to watch for ID are, in order; $1.22, $1.34, and $1.42. Especially, a two-hour bar closure above the $1.22 level, which intersects with the EMA 200 level, will help ID’s price gain momentum.
