Cryptocurrency ecosystem investors are keenly observing token unlock events. According to data from the Token Unlocks data analysis platform, token unlocks worth $223.37 million will occur in the next seven days. Tomorrow, the unlock event for the Manta Network’s native MANTA token is an event that investors should keep an eye on.
Manta Network Token Unlock
According to data shared by the Token Unlocks platform, $223.37 million worth of token unlocks will take place next week, including significant unlock events. Among these unlocks is the MANTA token, the native token of the Manta Network blockchain.
The event, which will take place tomorrow (April 1) at 03:00, involves a quantity of tokens equivalent to 0.75% of the total MANTA token supply, valued at $5.49 million. With just hours to go, investors are eagerly monitoring the process, and at the time of writing, the MANTA token was trading at $2.94. The MANTA token unlock event is a process that investors should carefully follow.
Manta Chart Analysis
After a decline in the price of MANTA, a rising channel formation structure on the two-hour chart is notable. This formation structure provides important clues for investors as the price tests the support level several times. The price being below the EMA 200 (red line) indicates a negative short-term trend for MANTA.
The most important support levels to watch on the two-hour chart for MANTA are; $2.915, $2.856, and $2.802 respectively. A two-hour bar close below the $2.915 level, especially where it intersects with the formation support line, will cause MANTA’s price to lose momentum.
The most important support levels to note on the two-hour MANTA chart are; $2.974, $3.023, and $3.096 respectively. A two-hour bar close above the $3.096 level, which is above the EMA 200, will help MANTA’s price gain momentum.
