The cryptocurrency market anticipates token unlocks exceeding $250 million in value over the next seven days. Notably, the linear unlocks of tokens #Solana and #DOGECOİN , which are assets with fragile market structures. While $SOL faces a much larger unlock of $61.83 million (465,770 SOL), $DOGE is expected to release.
Tokens worth $14.69 million (95.89 million DOGE),
Although $AVAX also has an unlock of $11.65 million, #DOGE and #SOL are under severe pressure due to their technical conditions. The price of DOGE hovers around $0.145, just above a key support level. All major moving averages (50, 100, and 200-day exponential moving averages) are above the current price, indicating a slight recovery in recent price action but an overall downward trend.
At around 31, the Relative Strength Index (RSI) indicates an overbought condition and may suggest a short-term recovery. However, there are risks associated with the issuance of new tokens. If more supply enters a market that already lacks a strong upward trend, the price of DOGE could drop below $0.145, potentially retesting the $0.12 level. This asset may experience a long-term decline unless bulls quickly recover above the $0.18 levels.
The situation is similar to the price of SOL. It is currently trading around $134 and has already fallen below the 200-day exponential moving average, struggling to maintain the $130 range. Momentum is weak, and the Relative Strength Index is in the mid-thirties. The planned release of a massive $61 million in the coming days raises further downside risks. In the absence of a strong recovery above $150-155, the price of SOL could drop to $120, weakening the entire market.
Although the unlocks of these tokens are partially priced and known in advance, risks increase when they coincide with price drops and declining market confidence. Both DOGE and SOL may experience faster sell-offs if current support levels collapse amidst increased token trading. Traders should monitor changes in trading volume and slight increases in volatility as the token unlock period continues.