Cryptocurrency market investors are keenly observing token unlock events. According to the Token Unlocks platform, which shares token unlock data with its users, tokens worth $450.15 million will be unlocked in the next seven days. Today, the focus is on the token unlock event for CyberConnect’s native token CYBER, which is significant for social media platforms in the Web3 space.
CYBER Token Unlock
Data provided by Token Unlocks indicates that the upcoming week will witness one of the largest token unlock events, valued at $450.15 million. Among these unlocks, the event for CyberConnect’s native CYBER token, which is active in the Web3 social media space, should be closely monitored.
The event happening today (April 14) at 23:00 will release an amount of CYBER tokens that represents 5.98% of its total supply, with a market value of $7.63 million. As the event approaches, investors are eagerly watching, and at the time of writing, the CYBER token was trading at $8.60. The CYBER token unlock event is one of the most notable in the coming days.
CYBER Chart Analysis
The daily CYBER chart provided significant clues to investors until April 12 with its rising channel formation. However, the price drop on April 12 broke the support line, leading to significant losses. Yet, finding support at the EMA 200 (red line) level could signal long-term momentum for CYBER.
Key support levels to watch on the daily chart for CYBER are $8.11, $7.53, and $6.89, respectively. A daily bar close below the crucial $8.11 support level, especially after the recent break, could lead to a loss of momentum for the CYBER price.
Important resistance levels to monitor on the daily chart for CYBER are $8.78, $9.37, and $10.17, respectively. A daily bar close above the $10.17 level, which acted as support on the evening of April 12, would help CYBER gain momentum.
