Avalanche (AVAX) Token Unlocking: Discussing the Unlocked Quantity and Price Trend
Unlocked tokens often face sales pressure, so the specifics of the unlock are crucial to investors. Below we will take a detailed look at the unlocking of Avalanche (AVAX) tokens, including the amount of AVAX that will be sent to different organizations and the price movement during past lock-up periods.
Unlock allocation:
Strategic Partners: 2.25M AVAX Foundation (AVAX Foundation): 1.67M AVAX Team: 4.50M AVAX Airdrop: 1.13M AVAX
Price trend during AVAX unlocking in 2023:
In the chart below marked with the red arrow, we can see a daily chart of AVAX for a similar unlock scenario in 2023.
Currently, Avax coin is in a downward trend and recently broke the important support level at $20.88. This level is critical and could become support again if the price rises again and closes above $20.88 for at least 2 hours. Holding above this price could end the short-term decline, but in the meantime, the risk would be considerable if the price persists below the important support level of $20.88.
Potential support and resistance levels:
Potential Support: $20.88 Resistance: $21.3 to $21.66 to $22.47
$22.47 appears to be the final resistance level, and the future trend may become clear at this point. So this could trigger a major rally. It is prudent to take action on a breakout of support. Therefore, it is recommended to take action only if you see the price closing well above $20.88.
