- PENDLE has been overbought and excessive volatility might pull the worth all the way down to $3.75.
- The 4-hour YGG/USD chart confirmed a golden cross that might see the token attain $1.20.
- Extra money has flowed into AGIX, suggesting the worth might retest $1.30.
Regardless of unlocking tokens this week, costs for Pendle (PENDLE), Yield Guild Video games (YGG) and SingularityNET (AGIX) have elevated over the previous 24 hours. At press time, PENDLE was up 12.39%.
YGG jumped 14.87%, whereas the AI-themed AGIX rose 7.72%. In accordance with information from Token Unlocks, PENDLE would have unlocked 0.09% of its provide price $167,870 on March twenty seventh. On the identical day, YGG would float 5.39% of its inventory.
Lastly, the AGIX token unlock was price $9.99 million, representing 0.69% of its whole provide. Token unlocking normally causes excessive volatility and has an affect on liquidity. As such, Coin Version displays the doable affect on the costs of those tokens.
Pendulum (PENDULUM)
Within the 4-hour timeframe, the pink candlestick pulled the worth of PENDLE from $4.12 to $3.98. This drawdown was a sign that some merchants could guide income. If different market contributors additionally determine to promote, the worth of the token could fall to the $3.48 help.
The Relative Energy Index (RSI) indicated that PENDLE initially reached an overbought level earlier than pulling again. Nonetheless, the decline didn’t robotically result in bearish momentum. Extra indications from Bollinger Bands (BB) additionally strengthened the overbought situation because the higher band reached the token above $4.
With the upcoming token unlock, it’s doable to see PENDLE releasing a few of its income. In a extremely bearish case, the worth of the token could fall to $2.91. Nonetheless, if consumers keep momentum, PENDLE could commerce round $3.75
Yield Guild Video games (YGG)
Not like PENDLE, YGG didn’t see a retracement as the worth reached $1.10. A take a look at the Exponential Shifting Common (EMA) confirmed that the worth could rise additional.
On the time of writing, the 9 EMA (blue) has crossed over the 20 EMA (yellow). With this pattern, YGG might even see extra upside whatever the token unlock. From a bullish viewpoint, the worth of the token might attain $1.20. Nonetheless, if merchants determine to reap the benefits of the current features, the worth might fall as little as $1.05.
SingularityNET (AGIX)
Many AI-themed tokens have seen a decline previously 24 hours. Nonetheless, it was not the identical for AGIX, suggesting that there was optimism surrounding the token’s unlocking.
At press time, the Cash Circulate Index (MFI) rose to 66.45. Such a studying implies a rise within the capital invested within the altcoin. This additionally signifies good shopping for strain. If money movement continues to extend, AGIX worth could retest $1.30 within the quick time period.
The Superior Oscillator (AO) additionally matched the forecast because it confirmed growing bullish momentum. Nonetheless, if demand for AGIX doesn’t match the rise in provide, a decline could comply with.
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