- The MASK price is currently trading at $5.590 while seeing a change of -0.90% in 24-hour trading volume.
- The MASK price has been observing an increase of 3.34% in the last 24 hours.
Recently, the MASK price has been trading on an extremely bullish uptrend. After breaking out of its consolidation near its critical resistance level at $2.000, the MASK price saw a sudden surge in buyers. It made an extremely bullish trend of more than 95%. After breaking out of the resistance, the bulls are more prominent in the ongoing price action. And they are constantly supporting the MASK price from its trendlines support level, which suggests that the price can observe a significant increase in the near future.
The price is at percent trading around its recent support zone. Despite the bullish action in the price, it can observe a bearish correction.
MASK price trading under the supply zone on the (Daily Timeframe)
The MASK price is currently facing resistance from the $7.000 price point according to which the price is giving indications of making a bearish move. If Mask Network’s price successfully faces rejection from its current resistance, it can give a major downward move of 40% going to its main support level of around $3.500. Although the MASK price is near its recent support level, the sellers might prefer to wait for a breakdown before taking further action.
Technical Analysis ( 1 Day Timeframe )
The RSI line is currently around the median line where it is facing resistance from the 14 SMA. The RSI line made a bearish cross down below the 14 SMA and it is making a retest. The negative reversal of RSI from the 14 SMA suggests that the price might start moving toward the oversold levels. The current RSI value is 52.45 points which is facing resistance from the 14 SMA trading around 55.17 points.
Conclusion
According to analysts, the current support zone of the MASK price might be broken by the sellers. The MASK price is currently trading near the current support zone in a reversal. It is moving above the 20,50,100,200 EMA in a bullish trend. The recent support zone for MASK is around $5.200 and its major resistance is near $7.000. The major support level for the Mask token is near the $3.500 price.
Technical levels –
Support –$3.500
Resistance – $7.000
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Source: https://www.thecoinrepublic.com/2023/04/12/mask-price-analysis-there-may-be-bullish-optimism-for-mask-price/