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- 1 MASK price is currently trading at $1.194 with a 59% drop in the 24-hour trading volume.
- 2 MASK price is down by 26% in the last 7 days.
- 3 The MASK price may see a positive turnabout in the future.
MASK’s price recently broke an important support level near its trendline which was being respected by buyers for the past 8 months. Major cryptos declined and several prominent cryptocurrencies in the overall market observed a significant decline in their value. However, they are currently moving near a crucial support zone which may influence the buyers to support the price.
The price of MASK recently saw a fall of 25% within a short period, breaking below the support zone, but the buyers started stepping into the price action salvaging the price.
Currently, the price is trading close to its previous support level. It is facing severe resistance from the 200 and 100 EMA levels. If investors show their support at the current price level, there is a slight possibility that the price may experience a substantial surge of 44% in the near future.
Presently, the value of the MASK token is $3.58 and it has a market cap of $324.19 Million.
Investors Showing Bullish Optimism
According to LunarCrush, the sentiments of the Investors forecast a promising turn. The total bullish sentiment parameter has surged by 53.59%, whereas there is a negative increase in the 24-hour trading volume of 13.93%, indicating that there is a decline in the buying and selling activity among investors
Technical Analysis of MASK Price on Daily Chart
The RSI line is presently trading just above the oversold level facing resistance from 14 SMA. The RSI line is moving near 38.98 points and the 14 SMA is providing resistance to it at around 44.99 points.
Presently, the %K line is striking the %D line near the demand level on the daily timeframe. stochastic RSI may shortly intercept above the 20 RSI points proposing a turn towards a bullish direction.
Conclusion
The price of MASK is trading close to its previous support level. On a positive note, LunarCrush suggests that there is a potential for a positive reversal in the MASK whereas the price action is also indicating that the MASK token may experience a substantial surge in its value within the near future.
Technical levels
Support – $2.500 and $3.000
Resistance – $5.000 and $6.000
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.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
