- The Mask Network crypto price has declined by 18% in the last 24 hours.
- The price has slipped below the 20-day exponential moving average.
Since February, the Mask Network price has been on a bullish trend and has gained 37%. The price is rising by forming higher highs and higher lows, and recently, it has approached the $5 mark. The MASK price has failed to sustain the $5 mark and declined by 15% in just 2 days. The Mask crypto price tried again to sustain the $5 mark, but the sellers were strong enough to drag down the price.
The Mask Network price has witnessed intense selling pressure from the $5 hurdle and staying between the 20-day and 100-day moving average. It has triggered a negative pullback and generated a negative forecast.
According to the technical indicators, the RSI is at 48 and continuously declining from the overbought zone, indicating a negative forecast. The price has dropped below the 20-day EMA and heading for the 100-day EMA.
Mask Network Crypto Price vs Volume Analysis
According to the graph of price and volume, the trading volume has risen from $110 million to $650 million, and the price has also increased. In the last few hours, the trading volume has decreased from $700 million to $400 million, and the price has declined. Suppose the volume decreases, then the price may perform negatively.
Mask Network Crypto Social Dominance Vs Social Volume
Social dominance and social volume are indicators of the increasing or decreasing popularity and awareness of Mask Network among users on various social media platforms like X, Instagram, and Telegram.
As per the graph of social dominance and social volume, a slow and steady rise in the number of social users has been witnessed, which may positively impact the price.
Technical Analysis of the MASK Price Over Daily Timeframe
At press time, the Mask Network price was trading at $4.39, dropping by 8.90% in the last 24 hours. The market capitalization is $423.96 million, and the 24-hour trading volume is $439.73 million.
The MASK price has been facing resistance from the $5 hurdle and witnessed strong selling pressure for the last few hours. Currently, the price is heading toward the support level of $4, and sellers are strong.
According to the technical chart, the Mask Network price has slipped below the 20-day exponential moving average. If the current running candlestick closes below the 20-day EMA, sellers may show interest and drag the price down to the 100-day exponential moving average.
If the price fails to defend the 100-day EMA, it may be difficult for the buyers to get back in the game because it is following a bearish trend in a broader time frame. On the other hand, if the price bounces back and surpasses the last swing high, then buyers may dominate further.
MASK Price Prediction Over 4-H Timeframe
In a 4-H time frame, the Mask Network crypto price has declined by 14.86% in the last 16 hours. It has witnessed intense selling pressure and is heading for the support level of $4.
Suppose the MASK price drops to the $4 mark and forms a bullish candlestick, it may gain bullish momentum. If it fails to defend the support level, then sellers may dominate, and it may decline further.
Conclusion
Based on the technical analysis of the Mask Network crypto price, it seems that the price is currently facing strong resistance from the $5 hurdle and has witnessed a negative pullback. The RSI is declining from the overbought zone, indicating a negative forecast, and the price has dropped below the 20-day EMA. The trading volume has decreased, and the social dominance and social volume have witnessed a slow and steady rise, indicating a positive impact on the price.
Technical Levels
Resistance: $4.80 & $5.25
Support: $4.00 & $3.20
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.