Token

Flow

You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/major-token-unlock-event-looms-for-flow-blockchain" rel="noopener noreferrer nofollow">Major Token Unlock Event Looms for Flow Blockchain</a> 
In the cryptocurrency market, token unlock events are closely monitored by investors for their potential impact on token prices. According to <a href="https://en.bitcoinhaber.net/iota-ecosystem-dlt-foundations-establishment-in-abu-dhabi-triggers-43-increase-in-local-iota-token" rel="noopener noreferrer nofollow">Token</a> Unlocks, a platform that tracks these events, $202.07 million worth of tokens are scheduled to be released in the upcoming week. The Flow blockchain’s native token, FLOW, is set for a significant unlock event, which is drawing particular attention.
Token Unlocks has shared that this period will witness one of the largest token unlock events recently, with the Flow token being a notable part of this. The event is expected to unlock 0.18% of FLOW’s total supply, valued at $2.18 million, and is scheduled for January 16th at 03:00. As the event approaches, investors are keenly observing the process, with FLOW trading at $0.838 at the time of writing.
Technical analysis of the four-hour FLOW chart reveals a rising channel formation, which was breached during the first week of 2024, leading to a price drop below the EMA 200 level. This breach could potentially turn the former support line into a resistance, creating a bearish scenario for FLOW.
Key support levels to watch on the four-hour chart for FLOW are $0.808, $0.768, and $0.727. A close below the $0.808 level could trigger short-term selling pressure. Conversely, resistance levels to monitor are $0.859, $0.898, and $0.937, with a close above the $0.859 level, intersecting with the EMA 200, potentially accelerating FLOW’s momentum.
Investors and traders are advised to keep a close eye on these technical indicators and the upcoming token unlock event, as they could significantly influence FLOW’s market behavior in the short term.
<h5>The post first appeared on BH NEWS: <a href="https://en.bitcoinhaber.net/major-token-unlock-event-looms-for-flow-blockchain" rel="noopener noreferrer nofollow">Major Token Unlock Event Looms for Flow Blockchain</a></h5>

Major Token Unlock Event Looms for Flow Blockchain

BH NEWS

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