The cryptocurrency market has witnessed a remarkable surge in $PRIME, with a staggering 40% increase over the past seven days, reaching a high of $9.45 on August 25.
Despite this significant price jump, smart traders continue to exhibit buying pressure, with their balances swelling by 22% in the last 24 hours.
đ„ $PRIME Rises 40% but Buying Pressure from Smart Traders Still Remains
đ See more details about $PRIME for your own plan:https://t.co/yMTGl7SB1L
Over the past 7 days, $PRIME has increased ~40%, reaching $9.45 on August 25.
đEven after the price has increased⊠pic.twitter.com/xIRIRjquFm
— iCrypto | Sentiment & On-chain Analysis (@iCryptoAI) August 27, 2024
$PRIME Faces Token Unlock Event On August 31st
However, technical analysis suggests that $PRIME has entered a robust resistance zone, prompting caution among investors. The token is poised for a substantial unlock of 750,000 tokens on August 31st, equivalent to 1.68% of its circulating supply, valued at approximately $5.4 million.
â° Upcoming Token Unlocks (August 26 – September 01)
Several crypto projects will unlock tokens this week, including $YGG, $AGIX , $TORN , $OP , $PRIME , $MANTA , $DYDX , $SUI and $ZETA .
Investors, keep an eye on these token unlocks events! pic.twitter.com/pJnpZqB25w
— SoSoValue Research (@SoSoValue) August 26, 2024
Market speculation is rife, with some predicting a “mega pump” as Echelon Prime breaks out of resistance. While the token’s recent performance has been impressive, investors would do well to exercise restraint, considering the impending unlock and potential market volatility.
As the unlock date approaches, the market is abuzz with excitement, and some are even shilling $PRIME in anticipation of a significant price movement. Nevertheless, it’s crucial to remain vigilant and consider the technical and fundamental factors influencing the token’s performance.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!
Image Source: grazvydas/123RF // Image Effects by Colorcinch
