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Arbitrum (ARB) shows bullish potential above $0.530, impacting market sentiment significantly. EigenLayer (EIGEN) and Axie Infinity (AXS) are stabilizing within key price ranges, indicating consolidation. ApeCoin (APE) tests critical resistance at $0.7065, with potential for bullish momentum if broken. The crypto market is gearing up for activity from October 14 to 20, 2024, with over $214.33 million worth of token unlocks, according to Token Unlocks data. This includes tokens from big projects like Arbitrum (ARB), EigenLayer (EIGEN), Axie Infinity (AXS), Starknet (STRK), Taiko (TAIKO), ApeCoin (APE), and Pixels (PIXEL). These unlocks could shake up market liquidity and prices, depending on how traders react. Arbitrum (ARB): Bullish Potential Above Key Resistance Arbitrum (ARB) is leading the pack, with a $48.97 million token unlock (2.56% of circulating supply). As at press time, ARB is trading at $0.5298, marking a daily increase of 0.66%.  ARB’s recent price action indicates significant activity around the $0.515 support level. The key resistance sits at $0.530, and a move above this level could send ARB towards $0.540. Source: Coinmarketcap However, if ARB can’t stay above $0.515, it might drop to the next support level around $0.510. This 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) and Axie Infinity (AXS): Steady Price Ranges EigenLayer (EIGEN) is set to release $41.40 million in tokens (6.01% of circulating supply). It’s currently trading at $3.74, up 1.62% over the last 24 hours.  Source: Coinmarketcap The support level of $3.67 has proven solid, 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), with $41.55 million worth of tokens unlocking (6.08% of circulating supply), is…

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Filed under: News - @ October 11, 2024 1:23 pm