Altcoin Market Set for Supply Challenge with Upcoming $70 Million Token Unlocks
Upcoming Token Unlocks: Over $70 million in previously locked tokens from various sectors, including DeFi and gaming, are set to be released in the coming days, starting with smaller projects on November 3 and larger ones like Ethena on November 4.
Market Impact: The release of these tokens, particularly from major projects, could significantly influence liquidity conditions and market sentiment, potentially leading to volatility and price pressure in the altcoin market.
Gaming Tokens Focus: Midweek, the gaming token Heroes of Mavia is expected to increase its supply by 20%, which analysts predict could lead to heightened volatility due to its low trading volume and speculative nature.
Investor Caution: The week’s token unlocks may create temporary turbulence in the market, testing investor confidence and potentially leading to price corrections or opportunities for accumulation, especially after recent losses in the crypto sector.
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Technical Analysis for TST
Technical Sentiment Analysis for Test (TST) As of , Test (TST) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for TST stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, TST is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Test (TST) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 0.00431 | 0.00647 | 0.0087 | 0.0109 | 0.0131 | 0.0153 | 0.0175 |
| Fibonacci | 0.00647 | 0.00815 | 0.00919 | 0.0109 | 0.0125 | 0.0136 | 0.0153 |
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