Cryptocurrency market investors closely monitor token unlock events. According to the Token Unlocks platform, which tracks these events, tokens worth $330.36 million will be unlocked in the coming seven days. Tomorrow’s token unlock for NYM Network‘s native token NYM is an event that requires close attention.
NYM Token Unlock Event
According to data shared by Token Unlocks, the upcoming week will see one of the largest token unlock events of the recent period, worth $330.36 million. Among these unlocks is the native token of the NYM Network ecosystem, NYM.
The event, which will take place tomorrow (February 27) at 03:00, involves an amount of tokens equivalent to 3.63% of the total NYM token supply, with a market value of $5.45 million. As the event approaches, investors are eagerly following the process, and at the time of writing, the NYM token was trading at $0.218. The NYM token unlock event is one of the most notable in the coming days.
NYM Chart Analysis
The first notable pattern in the daily NYM chart is the ascending channel formation. This pattern broke down at the support level in the second week of January and the formation’s support line acted as resistance during the first upward movement. This could negatively affect NYM’s price in the long term. However, the fact that recent daily bar closings are above the EMA 9 (blue line) is a positive development in the short term.
The most important support levels to watch on the daily NYM chart are; $0.2118 / $0.2037 and $0.1983, respectively. A daily bar closing below the $0.2118 level, which intersects with the EMA 9, could cause NYM’s price to lose momentum.
The most important resistance levels to note on the NYM chart are; $0.2195 / $0.2305 and $0.2417, respectively. A daily bar closing above the $0.2305 level, which intersects with the formation’s support line, could help NYM’s price gain momentum.
