Arbitrum (ARB) Leads the Pack as Crypto Market Braces for $214.33m Token Unlocks from October 14 to 20, 2024

The crypto market is gearing up for activity from October 14 to 20, 2024, with over $214.33 million worth of token unlocks

Over $214.33 million in tokens are set to be unlocked in the crypto market from October 14 to 20, 2024, according to Token Unlocks data.

These unlocks could have an impact on the market liquidity and prices, depending on how traders react to the event.

Among the projects included in the unlocks are Arbitrum (ARB), EigenLayer (EIGEN), Axie Infinity (AXS), Starknet (STRK), Taiko (TAIKO), ApeCoin (APE), and Pixels (PIXEL).

Here's a closer look at some of the key unlocks and their potential market implications:

Arbitrum (ARB) leads the pack with a $48.97 million token unlock (2.56% of circulating supply)

As of press time, ARB is trading at $0.5298, showing a minimal daily increase of 0.66%.

Recent price action indicates strong activity around the $0.515 support level, with key resistance at $0.530.

If ARB manages to stay above $0.515, it could face resistance at $0.530, potentially leading it toward $0.540.

However, if it drops below $0.515, it might encounter the next support around $0.510.

The tight range suggests a potential breakout or breakdown in the coming days, influenced by market sentiment and the reaction to the unlock event.

EigenLayer (EIGEN) to release $41.40 million in tokens (6.01% of circulating supply)

Currently, EIGEN is trading at $3.74, showing a slight increase of 1.62% over the last 24 hours.

The support level of $3.67 has remained strong, and the price is hovering between this support and a resistance level at $3.90.

A sustained push above $3.80 could lead EIGEN to retest the $3.90 mark.

Axie Infinity (AXS) to unlock tokens worth $41.55 million (6.08% of circulating supply)

Currently, AXS is trading at $4.50, showing a minimal increase of 0.36%.

Over the past 24 hours, AXS has encountered resistance near $4.48, limiting its upward movement.

However, if it manages to break through this resistance, it could be propelled toward the psychological level of $4.60.

Starknet (STRK) to unlock $25 million (3.30% of circulating supply)

As of press time, STRK is trading at $0.3908, showing a slight increase of 2.49% over the past 24 hours.

STRK has strong support at $0.375, and a move above $0.395 could ignite further bullish momentum.

Taiko (TAIKO) to release $18.24 million in tokens (15.00% of circulating supply)

Currently, TAIKO is priced at $1.53.

The current bearish sentiment has pushed the price downward, encountering resistance at $1.5988 and support at $1.52.

A break below the support level could lead to increased selling pressure.

ApeCoin (APE) to unlock tokens valued at $10.86 million (2.31% of circulating supply)

APE is currently priced at $0.6998, testing a key resistance at $0.7065.

If buyers succeed in pushing the price above this level, it could trigger a bullish rally.

However, if it fails to break through the resistance, it might encounter support at $0.67.

Pixels (PIXEL) to unlock $6.80 million (7.05% of circulating supply)

PIXEL is currently trading at $0.1259.

Support is strong at $0.118, and the price is approaching resistance at $0.126.

If it manages to break above this resistance, it could signal further upside.

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