Mask Network signaled a reversal following an increase above a crucial trendline that has been suppressing buying actions in the past weeks. Trading volatility has increased following a surge above a key level.

Just like how Mask’s price picked up from a long trendline to flip a resistance line in the first quarter, the same pattern is repeating itself with a surge in volatility. This pattern may not come with a pullback until buying momentum is exhausted.

And if that happens, the key $4 level would be a retracement point to keep an eye on. Due to the current price surge, that level could come as a sharp retest before it fully resumes buying.

Let’s consider a potential crackdown at this long trendline, which has been serving as dynamic support for seven months, Mask could see a heavy meltdown to $1 in weeks before it finds a solid level for recovery.

All in all, it is important to note that the current positive action is majorly fostered by a slight increase in Bitcoin’s price in the past few days. 

If the price falls again, we can expect Mask and many other altcoins to follow BTC’s direction. Mask’s price is surging to a key resistance level with a 10% increase over the past hours.

As Mask bounces above a key level this week, the closest resistance to watch now is $5. If this resistance comes into play quickly, it may push further to $6 by the end of the week. A full recovery to $7 could trigger more positive actions.

Below the long trendline, marked orange in the above chart, the support levels to consider for drops are last week’s low of $3.5 and March’s low of $2.8.

Key Resistance Levels: $5, $6, $7

Key Support Levels: $4 $3.5, $2.8

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

224 +