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Cryptocurrency ecosystem investors keenly follow data on token unlock events. According to the Token Unlocks data analysis platform, $45.80 million worth of token unlocks will occur over the next seven days. Tomorrow, we are examining the token unlock event for the local token ID of the Space ID platform, which provides domain services in blockchain ecosystems.
ID Token Unlock
According to data shared by the Token Unlocks platform, $45.80 million worth of tokens will be unlocked next week, marking one of the lowest weekly token unlock volumes recently. Among these unlocks, the local token ID of Space ID, which offers domain services on blockchain networks, is included.
The event, which will take place tomorrow (April 22) at 03:00, involves an amount of ID token that corresponds to 4.29% of the total supply, with a market value of $15.75 million. With just hours left until the event, investors are eagerly following the process, and at the time of writing, the ID token was trading at $0.849.
ID Chart Analysis
The first notable formation in the four-hour ID chart is the descending channel formation. According to this formation, recent bar closures have achieved a resistance breakout. This development will contribute to an upward momentum in ID prices. Particularly, crossing above the EMA 9 (blue line) and EMA 21 (green line) levels indicates a positive short-term process for ID.
The most important support levels to monitor on the four-hour chart for ID are; $0.8326, $0.7934, and $0.7552 respectively. Especially, a four-hour bar closure below the $0.8326 level, intersecting with the EMA 9, will cause ID price to lose momentum.
The most important resistance levels to watch on the four-hour chart for ID are; $0.8598, $0.9011, and $0.9632 respectively. Particularly, a four-hour bar closure above the $0.9632 level, intersecting with the EMA 200 (red line), will enhance ID’s momentum.
