On November 24 at 06:00, 9.5M AVAX will be unlocked and distributed to certain groups.
No transactions such as sale or transfer can be made with locked tokens, but when they are unlocked, they become transactable and are sent to the token owners.
There is no rule stating that in lock openings, sales are made immediately and there is a definite withdrawal due to sales pressure.
Let’s take a look at how much AVAX will be sent to which group and how the price has moved in past lock openings.
How Much Avax Will Be Sent to Which Group?
- Strategic Partners: 2.25M AVAX
- Foundation(AVAX Foundation): 1.67M AVAX
- Team: 4.50M AVAX
- Airdrop: 1.13M AVAX
How the Price Moved During the AVAX Lock Openings in 2023
I have indicated similar lock openings in 2023 with red arrows on the 1-day AVAX chart.
Pinpoint AVAX Technical Analysis
Avax coin continues to trend in a downward trend. The recent important support at $20.88 seems to have been broken. This is a very important level. If it rises above this level again and we see at least a 2-hour close, $20.88 may act as support again. Staying above this price may end short-term declines. At the same time, I think it is quite risky if it stays below the important support of $20.88.
Resistance levels are $21.3 – $21.66 and finally $22.47 respectively.
$22.47 appears to be the final resistance. I think the future is clear from here. So it could start a big Rally.
Additionally, if there are those who want to take Buy/Long action, it is healthier to act on the broken support. So, if I see a healthy close above the $20.88 level, only then can I take action.
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