Cryptocurrency market investors closely monitor token unlock events. According to the Token Unlocks platform, next week will see $2.70 billion worth of token unlocks. Tomorrow, the unlock event for Aptos’s native token APT is an event that should be closely watched.
APT Token Unlock Details
Data from the Token Unlocks platform indicates that next week, the cryptocurrency market will witness token unlocks valued at $2.70 billion, with one of the largest being for Aptos’s native token APT, worth $330.4 million.
The event, taking place at 01:00 AM tomorrow (March 13), will release a quantity of tokens equivalent to 6.73% of the total APT token supply. With just hours to go, investors are eagerly waiting, and at the time of writing, the APT token was trading at $13.09. The APT token unlock event is drawing attention as the week’s most valuable token unlock.
APT Technical Analysis
The four-hour Aptos chart shows a rising channel formation. The resistance break on March 5th turned out to be a bull trap, causing many investors to incur losses. Currently, the APT price is squeezed into a narrow range and trading below the EMA 9 level, which could lead to a loss of momentum in the short term.
The most important support levels to watch on the four-hour chart for APT are; $12.95, $12.41, and $12.01. A four-hour bar close below the $12.95 level, particularly where it intersects with the Ichimoku level (purple line), could lead to a loss of momentum for the APT price.
The most important resistance levels to watch on the four-hour chart for APT are; $13.31, $13.75, and $14.35. A four-hour bar close above the $13.75 level, which has been a significant resistance in recent formations, will likely drive momentum for the APT price.
