IMX and APT Can Pump Despite Token Unlocks | Credit: Veronica Cestari
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Key Takeaways
ImmutableX (IMX) will have a token unlock today on July 11.
Aptos (APT) will have its token unlock on July 12.
How will the three cryptocurrencies react to these events?
Two major token unlocks are on the horizon: ImmutableX (IMX) on July 11 and Aptos (APT) on July 12.
While they involve a small percentage of each token’s circulating supply, their implications differ.
Let’s explain what this means for IMX and APT holders and their prices.
IMX Token Unlock
On July 11, IMX will release over 24.5 million tokens, 1.30% of the circulating supply.
This relatively small percentage of the circulating supply will go to ecosystem and project development.
So, it is unlikely to create selling pressure.
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Adding to the fact that the unlock is unlikely to add selling pressure, the technical analysis of the IMX price is inherently bullish.
In the final week of June, the IMX price created a bullish engulfing candlestick, preventing a breakdown from the long-term horizontal support at $0.40.
Even though IMX reached an all-time low of $0.33, it bounced and reclaimed the area shortly afterward.
On top of reclaiming the support, IMX created a double bottom pattern combined with bullish divergences in momentum indicators.
The Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD) have created bullish divergences, strengthening the double bottom pattern.
IMX will reach the $0.73 horizontal resistance area if a breakout occurs.
APT Token Unlock
Aptos will release 11.30 million tokens on July 12, comprising 1.75% of its circulating supply.
The unlock is diverse, giving tokens to the community, investors, and the foundation.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Valdrin Tahiri is a cryptocurrency analyst and reporter at CCN, specializing in technical analysis with a focus on Elliott Wave theory, on-chain metrics, and fundamental research. He brings over seven years of experience in the crypto space as both a trader and writer.
He discovered cryptocurrencies in 2017 while earning his MSc in Financial Markets at the Barcelona School of Economics, which sparked a deep interest in blockchain and market dynamics. Since then, he’s contributed to top crypto outlets like BeInCrypto and CoinGape.
Valdrin also served as Community Manager of BeInCrypto’s Telegram group for three years, helping grow it into one of the largest crypto communities worldwide. His expertise in market structure and price patterns allows him to break down complex trends into clear, actionable insights.
He’s published thousands of articles covering altcoins, Bitcoin cycles, and macro trends.
