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- 1 The MASK asset is showing bearish traits and is likely to lose more value.
- 2 MASK has demonstrated poor performance in the past week, and past month, indicating a reliable downward trend.
Mask Network (MASK) is basically, a decentralized application (dApp) that is bridging web 2.0 and web 3.0.
It melds with social media platforms, encouraging seamlessly steady access to decentralized finance (DeFi), secure file sharing, encrypted messaging, and NFT creation.
The MASK crypto was in a downtrend for a long time, it ideally followed the trendline resistance and deteriorated with it and it even touched yearly ATL around $2.50.
But, the MASK crypto has earlier exhibited a strong sign of turnaround as the price bounced back earlier from a pivotal level of around $2.50 and rose on the charts around October 2023.
Even, though the MASK Network demonstrated strong bullish behavior earlier and advanced to pierce through the trendline resistance, its struggle went in vain.
Also, it has achieved good performance in the last quarter by 9.76%, this implied a robust upward direction in the past price pattern on the daily chart.
MASK Network Crypto on Daily Time Frame
However, the crypto has displayed a sign of decline as the price fell continuously from a critical level of around $5.0 on the charts.
Furthermore, the MASK asset is showing bearish traits and can lose more value. It has demonstrated poor performance in the past week, and past month by 15.32% and 12.98% respectively, indicating a reliable downward trend.
Now, it looks like, the COREUM crypto is set for a dismal plunge, as it fails to break the resistance level of the trendline sinks to new lows from the current level, and aims more at the bottom.
The MASK crypto asset is exhibiting bearish weakness and falling capacity as it slides below major 20, and 50-Day EMAs. It is currently trading at $3.15 with an intraday loss of 5.12% in the last 24 hours.
The MASK crypto asset is displaying bearish momentum as MACD shows a strong bearish crossover with a broadening histogram and the RSI is at 39 and is falling steeply by encountering rejection from 14 SMA which is at 48, indicating that the MASK asset is not gaining steam for the upside yet and can continue to drop lower.
Summary
MASK price highlights the bearish sentiments and perspectives regarding the crypto asset in the daily time frame. The MASK Network price action highlights a bearish view at the time of publishing.
Moreover, the technical parameters of the MASK crypto price suggest the continuation of the downtrend, contingent on the buyer’s surge, over the daily time frame chart. The RSI, MACD, and EMAs suggest and highlight the bearish indications regarding the MASK price.
Technical Levels
Support Levels: $2.50
Resistance Levels: $5.00
Disclaimer
In this article, the views, and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
Amanda Shinoy is one of the few women in the space invested knee-deep in crypto. An advocate for increasing the presence of women in crypto, she is known for her accurate technical analysis and price prediction of cryptocurrencies. Readers are often waiting for her opinion about the next rally. She is a finance expert with an MBA in finance. Quitting a corporate job at a leading financial institution, she now engages herself full-time into financial education for the general public.
