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COINTURK NEWS > Altcoin News > Investors Monitor Token Unlock Events in Cryptocurrency Market
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Investors Monitor Token Unlock Events in Cryptocurrency Market

In Brief

  • Investors closely follow token unlock events in the cryptocurrency market.

  • Galxe's GAL token unlock event is significant, with $2.23 million worth of tokens unlocking.

  • Key support and resistance levels for GAL are $2.12 and $2.65, respectively.

COINTURK NEWS
COINTURK NEWS 10 months ago
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In the cryptocurrency market, one of the data points that investors closely follow is token unlock events. According to the Token Unlocks platform, which closely monitors token unlocks, $77.98 million worth of tokens will be unlocked in the next seven days. Tomorrow, the token unlock event for the Galxe platform’s native token, GAL, is an event that should be closely monitored.

Contents
Galxe Token Unlock EventGAL Chart Analysis

Galxe Token Unlock Event

According to data provided by Token Unlocks, which shares token unlock events with its users, $77.98 million worth of tokens will be unlocked next week, and some of the most notable token unlock events of recent times will take place. Among these unlocks, the Galxe platform’s native token, GAL, holds significant importance.

Tomorrow (September 2) at 03:00, the event will unlock a token amount equivalent to 0.82% of the total supply of GAL tokens, with a market value of $2.23 million. As investors eagerly follow the process with just hours remaining, the GAL token was trading at $2.18 at the time of writing. The GAL token unlock event is one of the most notable token unlock events of the upcoming week.

GAL Chart Analysis

The daily GAL chart highlights a rising channel formation. In this formation, the GAL price is currently trading above the support line, indicating a critical phase. Support from this region could bring a potential upward scenario to the forefront, but a break below the support could cause the price to lose momentum.

The most important support level to watch on the daily GAL chart is $2.12. A daily bar close below this level could subject the GAL price to potential selling pressure.

The most important resistance level to monitor on the GAL chart is $2.65. A daily bar close above this level would support the upward momentum, as it would also surpass the EMA 7 (blue line) and EMA 21 (green line) levels.

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 1 September, 2024 - 2:06 pm 1 September, 2024 - 2:06 pm
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