Linea Token Faces Mild Pressure Before Major Unlock
Linea’s price is showing slight weakness as it approaches a notable token unlock. Traders are closely monitoring key support levels for potential price reactions.
Today, a $27.5 million LINEA token unlock could test crucial support at $0.0240. A bullish breakout could push the price to $0.0280, while a bearish scenario might see it drop to $0.0235. Despite the price dip,Linea’s fundamentals and institutional support remain strong.
Currently, Linea is trading at $0.02481, down 2.3% in the past 24 hours. The token has been trading within a seven-day range of $0.02459–$0.02957. It’s now about 46% below its all-time high of $0.04667, set on September 10.
Market activity has increased, with 24-hour spot trading volume rising 11.5% to $130.02 million. This suggests stronger participation among short-term traders. However, open interest has decreased 3.58% to $137.85 million, while derivatives volume rose 7.76%, indicating some leveraged positions are being closed.
On October 10, 1.08 billion Linea tokens, worth roughly $27.54 million, will be unlocked. This represents 6.57% of the released supply. Only 22.83% of all tokens have been unlocked so far. Large token unlocks often bring short-term selling pressure,but Linea’s fundamentals are robust due to its growing decentralized finance ecosystem.
The project’s total value locked has risen to $1.49 billion, showing sustained network activity.linea benefits from strong alignment with Ethereum, with 85% of supply set aside for ecosystem expansion.
Institutional traction is also growing. SWIFT is testing Linea for blockchain-based interbank messaging, and SharpLink plans to deploy about $3.6 billion in Ethereum treasuries to Linea. The upcoming native yield mechanism and Ignition rewards program, which will distribute over $30 million in incentives through November, are expected to sustain liquidity and attract users.
On the 1-hour chart,Linea shows short-term weakness,trading just below its 20-hour simple moving average of $0.02515. The Bollinger Bands are contracting, suggesting a potential volatility breakout. The relative strength index is at 47, indicating neutral momentum.
While the Momentum indicator shows a mild buy signal, the majority of moving averages lean bearish. Resistance is near $0.0268, and immediate support is around $0.0240. A recovery toward $0.0280 may occur if buying volume rises and Linea breaks above the $0.0258–$0.0268 resistance zone. If sentiment declines,a close below $0.0240 might lead to further declines toward $0.0235 or even $0.0228.
