One of the data that investors closely follow in the cryptocurrency market is token unlock events. According to Token Unlocks platform, in the next seven days, token unlocks worth $674.92 million will take place. Tomorrow, LooksRare, a local NFT marketplace operating in the Ethereum ecosystem, will have its token unlock event, which should be closely monitored.
Final Hours for LooksRare
According to the data provided by Token Unlocks, which shares token unlock events with its users, token unlocks worth $674.92 million will take place next week, making them the largest token unlock events of recent times. Among these token unlocks is LOOKS, the native token of LooksRare, an important NFT marketplace in the Ethereum ecosystem.
The event, which will take place tomorrow (November 27) at 02:00, corresponds to 6.88% of the total supply of LOOKS tokens, with a market value of $4.59 million. As the event approaches, investors are eagerly following the process, and at the time of writing, LOOKS token was trading at $0.1140. The LOOKS token unlock event will be one of the most notable token unlock events in the coming days.
LOOKS Chart Analysis
The first notable formation on the four-hour chart of LOOKS is a narrowing channel formation. After the decline on November 22, the price closed below the support trend, but gaining momentum as it climbed above the EMA 200 (red line). However, this movement turned out to be a bear trap.
The most important support levels to be followed on the four-hour chart of LOOKS are 0.1092, 0.0996, and 0.0914 dollars, respectively. Especially, if the bar closes below the 0.1092 dollar level, which played a significant role in the correction movement after the recent rise, LOOKS will lose momentum.
The most important resistance levels to be considered for LOOKS on the four-hour chart are 0.1223, 0.1284, and 0.1341 dollars, respectively. Particularly, if the bar closes above the 0.1341 dollar level, which acted as a significant obstacle with a double top formation during the recent upward move, LOOKS will gain significant momentum.
