Investors in the cryptocurrency market closely monitor token unlock events, and according to Token Unlocks, $36.2 million worth of token unlocks are scheduled for the next week. Of particular interest is the token unlock event for MAVIA, the local token of Heroes of Mavia developed by Skrice Studios, which will take place tomorrow.
The event, scheduled for 03:00, will involve the unlocking of tokens representing 24.29% of MAVIA’s total supply, with a market value of $30.79 million. With only a few hours remaining until the event, investors are closely following the process, and at the time of writing, MAVIA tokens were trading at $4.02.
The two-hour MAVIA chart reveals a rising trend line that has been providing valuable insights to investors over the past two weeks. The fact that MAVIA’s price has managed to stay above the EMA 200 (red line) after a recent support touch suggests a positive long-term outlook.
On the two-hour chart, the most important support levels to watch are $3.96, $3.80, and $3.65. A two-hour bar closing below the $3.80 level, which intersects with the EMA 200 average, could lead to selling pressure on MAVIA.
On the other hand, the critical resistance levels to monitor on the MAVIA chart are $4.05, $4.26, and $4.47. If a two-hour bar closes above the $4.26 level, which has been a significant barrier during the recent upward movement, it could further accelerate MAVIA’s price gain.
Please note that the information provided in this article is not investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and should conduct their own research.