One of the data points that cryptocurrency market investors closely follow is token unlock events. According to the Token Unlocks platform, which keeps a close eye on token unlock events, tokens worth $27.18 million will be unlocked in the next seven days. Tomorrow, the unlock event for the local token of the Space ID project, the ID token, is an event that should be closely monitored.
Final Hours for ID Token Unlock
According to data provided by Token Unlocks, which shares token unlock events with its users, token unlocks worth $27.18 million will occur next week, marking some of the largest token unlock events of the recent period. Among these unlocks is the local token of the Space ID project, ID.
The event, which will take place tomorrow (January 22) at 03:00, involves an amount of tokens that corresponds to 7.39% of the total supply of ID tokens and has a market value of $9.36 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 $0.294. The ID token unlock event is one of the most notable unlock events in the coming days.
ID Chart Analysis
The first noticeable formation structure in the four-hour ID chart is the rising channel formation. The fact that there has been no support or resistance breakout in the formation structure indicates that it provides important clues to investors. After the recent drop, ID touched the support line and is currently trading within a narrow channel. A breakout of support or resistance will determine the direction.
For ID, the most important support levels to watch on the four-hour chart are; $0.29197 / $0.28421 and $0.27510, respectively. Especially, a four-hour bar close below the significant level of $0.29197 will cause ID’s price to lose momentum.
For ID, the most important resistance levels to watch on the four-hour chart are; $0.29995 / $0.30745 and $0.31719, respectively. Particularly, a four-hour bar close above the $0.31719 level, which is above the EMA 200 level (red line), will help ID’s price gain momentum.
