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In the cryptocurrency market, one of the events that investors closely follow is token unlock activities. According to the Token Unlocks platform, which closely monitors token unlocks, tokens worth 545.63 million dollars are set to be unlocked over the next seven days. Tomorrow, the token unlock event for 1INCH, a decentralized exchange (DEX) operating within the Ethereum ecosystem, should be closely monitored.
Final Hours for 1INCH
According to data provided by Token Unlocks, which shares token unlock events with its users, next week will see one of the largest token unlock events with 545.63 million dollars worth of tokens being unlocked. Among these unlocks is the token for 1INCH, a significant decentralized exchange within the Ethereum ecosystem.
The event, which will take place tomorrow (December 1st) at 15:00, will see an amount of tokens equivalent to 9.48% of the total supply of 1INCH tokens, with a market value of 33.89 million dollars. With just hours to go before the event, investors are following the process with great interest, and at the time of writing, the 1INCH token was trading at 0.343 dollars.
1INCH Chart Analysis
In the daily chart analysis of 1INCH, the first notable formation is the descending channel formation. Since touching the support line in the second week of September, 1INCH has gained upward momentum, but continues to be rejected by the resistance line on multiple occasions. Particularly, the breakout or breakdown from the narrow range after the EMA 200 (red line) is breached will determine the direction for 1INCH.
The most important support levels to watch on the daily chart for 1INCH are; 0.3234 / 0.2918 and 0.2725 dollars. Especially a daily bar close below the 0.2918 dollar level will lead to both a short-term loss of momentum for the price of 1INCH and pricing below the EMA 200 level.
The most important resistance levels to watch on the daily chart for 1INCH are; 0.3756 / 0.4229 and 0.4791 dollars. Particularly, a daily bar close above the 0.3756 dollar level would facilitate a breakout in the formation and help 1INCH gain momentum.
- Token unlocks are key events in crypto markets.
- 1INCH unlock to impact Ethereum-based DEX.
- Investors and traders closely monitor these unlocks.
