One of the data that investors closely follow in the cryptocurrency market is token unlock events. According to Token Unlocks platform, within the next seven days, token unlocks worth $674.92 million will occur. Tomorrow, an important gaming project in the Ethereum ecosystem, Yield Guild Games’ native token YGG will have its token unlock event, which should be closely monitored.
The Final Hours for Yield Guild Games
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. Yield Guild Games’ native token YGG, which is an important gaming project in the Ethereum ecosystem, is also among these token unlocks.
The event, which will take place tomorrow (November 27th) at 17:00, corresponds to 5.84% of the total supply of YGG tokens and has a market value of $6.68 million. As the event approaches, investors are eagerly following the process. At the time of writing, YGG token was trading at $0.40. The YGG token unlock event is one of the most significant token unlock events in the coming days.
YGG Price Analysis
The first notable formation on the 4-hour chart for YGG is the support line intersecting with the EMA 200 (red line). The fact that this trend line has not been broken below the support level since September 19th has been an important source of profit for investors trading in the futures market. The correction movement in the latest bar formation caused the price to drop below the EMA 7 (blue line), indicating a bearish scenario for YGG in the short term.
The most important support levels to be followed on the 4-hour chart for YGG are respectively $0.3779, $0.3617, and $0.3441. Especially due to the narrow range in recent bar formations, if the price drops below $0.3779, it will cause a loss of momentum for YGG.
The most important resistance levels to be noted on the 4-hour chart for YGG are respectively $0.4039, $0.4214, and $0.4435. If the price manages to close above the $0.4435 level, which was a significant obstacle during the upward movement on November 12th, it will lead to a significant increase in price momentum.
