- SUI, MANTA, DYDX, OP, and AGIX tokens set for market unlock.
- Token unlocks may cause price volatility; Coin Edition analyzing outcomes.
- SUI, MANTA, DYDX, OP, AGIX prices could fluctuate with upcoming unlocks.
In the upcoming week, a number of initiatives are on the agenda to unlock a fresh batch of tokens and introduce them to the market. The group of projects involved in this round includes Sui
Token Unlocks data indicates that SUI is set to unlock tokens valued at $7.12 million. MANTA is expected to unlock tokens worth $5.75 million, and the value of DYDX’s token unlock is projected to be $111.33 million. Additionally, the value of tokens OP is unlocking is estimated at $86.01 million, and YFI’s token unlock is pegged at $9.34 million.
Token unlocks often lead to price swings and increased market volatility. Coin Edition is examining the potential price outcomes for these tokens at the time of the unlock event.
SUI
SUI is currently trading at $1.80, a 4.40% decline over the past 24 hours. The Bollinger Bands on the 4-hour chart show a high level of volatility for the token, indicating potential price movement in either direction.
The RSI is on a downward trend, hinting that the prior upward momentum is losing strength. Should the market turn highly bullish, SUI’s price could climb to $1.94. Conversely, if the bearish trend prevails, the price could drop to $1.54.
MANTA
The 4-hour chart’s Awesome Oscillator (AO) indicated that bulls attempted to increase momentum. Should this trend persist, MANTA’s price could approach $3.45. Nonetheless, at that price point, the token could face resistance.
In such an event, MANTA could fall back to $2.98. However, if the bulls uphold the support level at $2.74, the price could rebound to $3 since the Aroon indicator suggests a bullish trend is more likely than a bearish one.
DYDX
The 4-hour chart reveals that DYDX has experienced significant downward pressure since March 9. Consequently, the token’s price has diminished by 8.56% over the past week.
Nonetheless, the bulls have managed to take advantage of the waning momentum of sellers, attempting to rejuvenate the price movement. Yet, indications from the Supertrend suggest that this potential uptrend may not be sustained, as evidenced by the sell signal when the price reaches $3.55.
Should the price of DYDX rise, it could reach the $3.55 mark. However, with the unlocking of tokens, there’s a possibility that the price might be pushed down to $3.10.
OP
As of the time of reporting, the price of OP stood at $3.52. Examination of the 4-hour chart revealed that the MACD was moving into positive territory. Despite a negative reading, the direction of the MACD suggested a potential short-term increase in OP’s price.
Additionally, the RSI had climbed past the 50.00 mark, indicating a growth in purchasing activity. Should this trend persist into the following week, the price of OP could potentially reach $3.85.
AGIX
Based on the 4-hour AGIX/USD chart, the On Balance Volume (OBV) indicator has shown no significant change. This condition of the OBV suggests that there has been no notable increase in either buying or selling activity for the token. As we approach the week of the token unlock, such circumstances may lead to AGIX experiencing lateral trading movement.
The trading range for AGIX is expected to be between $0.97 and $1.12. Furthermore, the Bollinger Bands have narrowed, suggesting a substantial increase or decrease is unlikely.
Disclaimer: The insights, perspectives, and data presented in this price analysis are published in good faith. Readers must conduct their own research due diligence. Any decision made by the reader is solely their responsibility, and Crypto Outlooks shall not be held responsible for any consequential or incidental harm or loss.
