- SUI might extend to $1.94 while the Aroon indicator suggested MANTA’s rise above $3.
- DYDX might be forced back to $3.10 as the Supertrend flashed a sell signal.
- OP might rise higher in the short term, and AGIX could consolidate.
Next week, several projects are scheduled to unlock a new set of tokens and release them into circulation. Some of the projects in this cohort include Sui (SUI), Manta Network (MANTA), dydx (DYDX), Optimism (OP), and SingularityNET (AGIX).
According to data from Token Unlocks, SUI would unlock $7.12 million worth of the token. MANTA plans to release $5.75 million, while DYDX’s token unlock would be worth $111.33 million. In addition, OP’s unlocks would be worth $86.01 million, and YFI’s unlock was valued at $9.34 million.
Most times, token unlocks are associated with price fluctuations and a change in volatility. Here, Coin Edition looks at the price predictions for the tokens when the event takes place.
SUI
At press time, SUI changed hands at $1.80, representing a 4.40% decrease in the last 24 hours. On the 4-hour chart, the Bollinger Bands (BB) indicated extreme volatility with the token. This implies that the price might fluctuate in either direction.
However, the RSI trended downwards, suggesting that the previous bullish momentum had become weak. In a highly bullish case, the price of SUI might extend toward $1.94. But if bears continue to dictate the momentum, the value might fall to $1.54.
MANTA
The Awesome Oscillator (AO) on the 4-hour chart revealed that bulls were trying to force the momentum upward. If this continues, the price of MANTA might head toward $3.45. However, at $3.45, the token might experience a pushback.
Should this be the case, MANTA might retrace to $2.98. But if bulls can defend the support at $2.74, the value might rally back to $3 as the Aroon indicator favored a bullish trend over a bearish one.
DYDX
From the 4-hour chart, DYDX has been a victim of intense selling pressure since March 9. As a result of that, the value of the token has lost 8.56% of its value in the last seven days.
But bulls have been able to capitalize on seller exhaustion in an attempt to revive the price action. However, signals from the Supertrend showed that the uptrend might be short-lived. This was because of the sell signal at $3.55.
If the price of DYDX increased, it might hit $3.55. But when the tokens are unlocked, the value could be forced back to $3.10.
OP
At press time, OP’s price was $3.52. The 4-hour analysis also showed how the MACD was heading in the positive region. Although the reading was negative, the MACD’s trend indicated that the value of OP might rise higher in the short term.
Furthermore, the RSI reading had risen above 50.00, suggesting that buyers were increasing orders. If this continues toward next week, OP might jump to $3.85.
AGIX
According to the 4-hour AGIX/USD chart, the On Balance Volume (OBV) had remained flat. The state of the indicator is a sign that buying or selling pressure has stalled with the token. Going into the token unlock week, a situation like this could cause AGIX to trade sideways.
As it stands, the value of AGIX might trade between $0.97 and $1.12. In addition, the BB showed that the bands contracted, indicating that a significant jump or decline might not happen.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
