- Mask Network price has bounced back by 20% from the significant support level.
- MASK crypto price is down by 36% this month.
- The 24-hour trading volume has increased by 30% in the last 24 hours.
MASK price has been defending the primary support level of $3 since November 2023. Last month, the price formed a head and shoulder pattern and displayed selling pressure. MASK crypto price has dropped by 46% to test the significant support level bouncing back.
The Mask Network price has displayed slow and steady gains for the last few years in a broader time frame. The asset price is currently forming a higher low and may gain bullish momentum for the next few weeks. The price has faced resistance from the $5.25 mark thrice and witnessed bearish momentum.
Turning to the technical indicators, the Bollinger band (BB) shows that the price has taken support on the lower BB and is heading toward the base BB. If the price surpasses the base BB, it may approach the upper BB. As per MACD, the signal and MACD lines are below zero, and a continuous histogram is formed. The histogram is converted to green, which showcases the optimistic forecast.
Will Mask Network Price Defend the $3 Level?
Mask Network price is trading at $3.72 with an intraday gain of 2.56%. The market cap is $357.36 Million, and the trading volume is $48.13 Million.
According to the technical chart, the bullish trend was interrupted near the $6 mark and has melted back to the significant support level. As we can see, the MASK price is gaining buying momentum.
Suppose the Mask Network price approaches the $4 mark, trading volume increases, and buying momentum can be initiated. If the chart structure manages to invite investors, the price may reach a new swing high.
On the other hand, if the sellers dominate the buyers, the buyers may lose momentum, and the price may fall back to the significant support level. Suppose the MASK price starts trading below the $3 level. Selling momentum can be expected, and the price will register a new 52-week low.
Performance
Based on the previous performance, the price remained bullish this week and rose by 11.97%, but it performed negatively in a month by 21.61%. In the last 6 months, the price is up by 22.68% but down by 19.10% yearly.
Development Activity Has Increased, But Volume Hasn’t
Development activity has increased by 100% in the past two weeks. However, it has dropped since March 21, and trading volume is down by 30%. If the development is active and trading volume is supported, it may positively affect the price.
Mask Network Price Forecast Based On Technical Analysis
The oscillators signal a neutral forecast, while 1 technical indicator suggests selling, 9 indicates a neutral signal, and 1 is a buying signal. According to the moving averages, 12 moving averages favor the selling signal, while 1 is neutral and 2 is buying. Overall, moving averages favor strong selling momentum.
Conclusion
MASK crypto price has been in a bullish trend on a bigger time frame and is defending the $3 mark for the past year. According to the technical analysts, the Mask Network price will remain bullish over the significant support level of $3, but sellers may dominate below the $3 level.
Technical Levels
Resistance Levels: $4.00 & $5.25
Support Levels: $3.00 & $2.50
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.