📊 Top 3 cryptocurrencies to watch this week: SUI, EIGEN, GMT 📊

📊 $SUI

Sui tokens worth $138 million will be unlocked on Tuesday as part of monthly releases continuing until 2069, when the total supply will hit 10 billion. The price hit $4.9536 this month but has since fallen to $4.2, dropping below the 50-day moving average. However, an inverse head and shoulders pattern suggests a possible price recovery.

The January Effect could act as a catalyst for SUI's price rebound, as this phenomenon often leads to asset price increases in January.

📊 $EIGEN

EIGEN is notable this week due to a significant token unlock on Tuesday, involving $80 million or 1% of its total supply, from the network known for its leading restaking platforms. This unlock will increase the circulating supply of EIGEN tokens to approximately 28%.

The EIGEN token hit a high of $5.6 in December before entering a bear market, dropping 40% to $3.42. It's now below key technical indicators, trading in a descending triangle pattern with a support level at $3.31.

The token is expected to break out bearishly to reach $3, though a bullish breakout above the current trendline could signal further price increases.

📊 $GMT

GMT tokens worth $16.4 million, which is 1.5% of the float, will be unlocked on Saturday, Jan. 4, placing GMT in the spotlight. On Friday, GMT's price surged to $0.2500 before experiencing a significant drop to $0.177.

GMT has reached a key reversal point according to Murrey Math Lines, with the RSI dropping from an overbought level of 90 to 50. Despite a downward trend, GMT might see a recovery as traders look to buy the dip; the next resistance level to watch is $0.2075.

📍Disclaimer: This is not a financial recommendation, cryptocurrency investments are speculative, and past performance does not guarantee future results. Always conduct your own research and consider your risk tolerance.

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