Token unlock events play a crucial role in supporting the supply and demand balance in the cryptocurrency market, and investors continue to closely monitor these events. According to data from Token Unlocks, one of the most important platforms for tracking these events, crypto assets worth $327.55 million will be unlocked this week.
Countdown Begins for YGG
On February 27th, the unlock event for the native token of Yield Guild Games, a significant gaming project within the Ethereum ecosystem, is an event that requires careful attention. According to data shared by Token Unlocks, next week will see the unlock of tokens valued at $327.55 million, including YGG, the native token of Yield Guild Games, a significant gaming project in the Ethereum ecosystem.
The event, which will take place tomorrow (February 27) at 17:00, involves an amount of YGG tokens that represents 5.57% of the total supply, with a market value of $9.53 million. Investors are eagerly following the process as the YGG token was trading at $0.573 at the time of writing. The YGG token unlock event is one of the most notable unlock events in the coming days.
YGG Chart Analysis
The daily YGG chart features an ascending channel formation and continues to provide significant clues to investors. According to this, YGG, which has closed above the EMA 9 (blue line) level in the latest bar formations, could gain significant momentum with this move. However, YGG, which faced rejection at the resistance level in the last bar formation, should closely monitor these levels.
The support levels for YGG on the daily chart are; $0.5207 / $0.4894, and $0.4584, respectively. Particularly, a daily bar close below the $0.5207 level, which intersects with the EMA 9, will cause YGG’s price to lose momentum.
The most important resistance levels to watch on the YGG chart are; $0.5814 / $0.6080, and $0.6425, respectively. Especially, a daily bar close above the $0.5814 level, which has acted as a significant resistance in recent formations, will help YGG’s price to gain momentum.
