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In the cryptocurrency market, one of the data points that investors closely monitor is token unlock events. According to the Token Unlocks platform, which closely follows token unlocks, $374.27 million worth of tokens will be unlocked in the next seven days. Tomorrow, the token unlock event of CYBER, the native token of CyberConnect, a significant Layer-1 project in the blockchain space, is drawing attention.
CyberConnect Token Unlock Event
According to data provided by Token Unlocks, which shares token unlock events with its users, $374.27 million worth of tokens will be unlocked next week, marking one of the largest token unlock events in recent times. Among these unlocks, the token unlock event of CYBER, the native token of the Layer-1 project CyberConnect, stands out.
The event, scheduled for tomorrow (August 14) at 15:00, involves an amount of CYBER tokens equivalent to 8.54% of the total supply, with a market value of $6.26 million. As investors eagerly follow the process with only hours remaining, CYBER was trading at $3.15 at the time of writing. The CYBER token unlock event is one of the most notable token unlocks in the coming days.
CYBER Chart Analysis
The daily chart of CYBER shows a descending channel formation. Accordingly, after a breakdown at the support line in the first week of August, CYBER touched the $2.23 support and then experienced a rise, continuing to trade within the formation area. The recent rise above the EMA 9 (blue line) average is of significant importance.
The most important support levels to watch on the daily CYBER chart are $3.03, $2.61, and $2.23, respectively. Especially a daily bar close below the $2.61 level could cause the CYBER price to lose momentum.
The most important resistance levels to watch on the daily CYBER chart are $3.83, $4.45, and $5.07, respectively. Especially a daily bar close above the $3.83 level, which is above the EMA 21 (green line) average, could help the CYBER price gain momentum.
