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- 1 Mask Network (MASK) token price chart displays bearish momentum over the past few trading sessions.
- 2 Technical indicators are suggesting sharp volatility ahead.
The Mask Network price signifies a sharp selloff, and the token has breached its essential support zone of $4 mark. Moreover, the token has delivered a follow-on decline in the form of bearish marubozu candlesticks. The trend is negative, and the token has delivered underperformance for the past weeks. Last month, the token reached a cliff of $6, but the craze did not last long, and sellers entered into the battle and led a sharp throwback of over 35% this month.
At press time, the Mask Network token (MASK) price traded at $3.47 with an intraday drop of 0.56%, reflecting neutrality on the charts. It has a monthly return ratio of -22.39% and -29.80% yearly. The pair of MASK/BTC is at 0.0000545 BTC, and the market cap is $234.52 Million. Analysts are neutral and suggest that the MASK token may soon retest the round mark of $3.
MASK Price Volume Profile On Daily Charts
On the daily charts, the price-to-volume profile of the Mask Network highlights that the token has hovered in the downside trajectory and is willing to pull back. Following the negative market sentiments, buyers have remained trapped and have not yet been able to lead any rebound. The intraday trading volume surged over 34.67% to $50.34 Million.
Price Volatility & Weighted Sentiment Outlook
Amidst the range-bound price move, the token displays a significant upmove in the price volatility curve this week. The price volatility curve noted an increase of over 3.20% to 0.021. However, the weighted sentiment stayed near the midline around -0.522, replicating a neutral outlook on the charts.
Social Dominance & X Followers Overview
The social dominance data noted a spike and bounced over 3.40% to 0.068%, signifying a neutral outlook in the media discussion reports. Conversely, the X followers data shows stability, it stayed near the midline around -2.
Development Activity and Total Open Interest Insights
The development data witnessed an upmove of over 14.67% and spiked above the midline around 114, showing a positive outlook. However, the derivative data signifies a short buildup outlook, and the open interest increased over 1.79% to $27.91 Million in the intraday session.
Per the Fib levels, the Mask Network price is trading in the bearish trajectory and replicates underperformance for the past few weeks. Similarly, the RSI curve stayed in the oversold region, and a negative crossover was noted on the charts. The price action shows a death crossover and highlights the bear dominance.
The total supply of the Mask Network token is 101.59 Million, whereas the volume-to-market cap ratio is 0.0216, and it is ranked 232 in terms of market cap in the global crypto market.
Summary
The Mask Network (MASK) token price signifies bearish momentum and trades below its key moving averages. Furthermore, the trend is bearish, and the token may continue to underperform in the following sessions. Additionally, the token may replicate a fresh selloff and extend the correction shortly.
Technical Levels
Support Levels: $3 and $2.80
Resistance Levels: $3.80 and $4
Disclaimer
The views and opinions stated by the author or any other person in this article are for informational purposes only and do not constitute financial, investment, or other advice.
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.
