- Mask Network crypto has a very high inflation rate.
- MASK has performed positively compared to its token sale price.
Mask Network (MASK) is a decentralized application bridging Web 2.0 and Web 3.0, integrating with social media platforms for DeFi, file sharing, messaging, and NFT creation.
Created by developers to empower users, the MASK token serves as a governance, staking, payment, and liquidity tool within the ecosystem, enhancing social media interactions.
The Mask Network crypto market cap has been trading flat, resulting in a slight decline of 1.41% in the last 24 hours. Following this, the value of the traded volume has advanced by 6.32%, resulting in $57.873 Million.
The following results in a volume/market cap ratio of 18.01%, which makes the crypto price highly liquid, followed by a market cap of $313.5 Million. Mask Network is the 186th most prominent cryptocurrency globally, with a market cap dominance of 0.01%.
The MASK crypto’s volatility is also high, resulting in 14.55%, and its sentiment is bearish, as per Coincodex. The fear and greed index is at 57, indicating investors’ greed.
The token was released on February 19th, 2021 and hit its all-time high price of $97.92, achieved nearly three years ago. Also, the all-time low price recorded for the token is $0.9752, and the cryptocurrency’s price has advanced by 230.85% since then.
The long/short ratio of the crypto is 0.9639, followed by a higher long liquidation of $81.18K in the last 24 hours. Also, the short liquidation for the crypto is $3.41K, and the derivatives trading volume of the token has slightly advanced by 0.96%.
Mask Network Token Supply Overview
The current circulating supply of the Mask Network crypto is 96.025 million MASK, 96.03% of the max supply. Moreover, the total supply of crypto is 100.0 million MASK, which is similar to its maximum supply.
The fully diluted market cap of the Mask Network token is $325.762 Million, and the circulating supply market cap of the crypto is $313.602 Million, as per Etherscan.io. Also, the on-chain market cap of the crypto is $327.0 Million.
MASK Crypto Technical Analysis
The price of the MASK crypto is trading inside a symmetric triangle pattern and currently relies on the pattern’s lower dynamic support line. This is further followed by the formation of strong bearish candles on the chart.
The current price action on the daily chart of the MASK crypto indicates a higher possibility of a breakdown in the crypto price. If this happens, a strong downtrend in the crypto price might be seen.
MASK/USD Chart by TradingView.com
The 20-day and the 50-day EMAs are trading in a bullish cross while the crypto price has declined below the following EMAs. This behavior shows weakness in the price and the possibility of a bearish crossover in the EMAs in the future.
The MACD and the signal line are trading above the zero level but have formed a fresh, bearish crossover. This is further followed by the formation of bearish histograms on the chart.
The value of the RSI has declined below the 14-day SMA and is currently trading at a level of 43.47. This shows bearish momentum in the price of the crypto.
Summary
The MASK crypto faces potential downward pressure as it trades within a symmetric triangle pattern, showing reliance on lower support levels. Bearish sentiment is reinforced by declining prices and indicators like MACD and RSI, suggesting a possible breakdown. Investors should monitor closely for further bearish trends.
Technical Levels:
- Support Levels: $0.02810 and $0.03730
- Resistance Levels: $0.1270 and $0.15350
Disclaimer
This article is for informational purposes only and does not provide any 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.