MASK price prediction: Mask Network’s token gears up for a 25% price swing
- MASK price is in a short-term uptrend, with a bullish target of $5.12 on the four-hour price chart.
- Mask Network’s token MASK is gearing up for a 25% upswing in its price.
- Invalidation of the bullish thesis will occur if MASK drops to the 50-day and 200-day Exponential Moving Averages below $3.87.
Mask Network’s token is gearing up for a 25% upswing in its short-term uptrend that started on December 30. MASK bounced off the trendline and continued its climb towards the $5.12 target.
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MASK gears up for a 25% upswing in its price
MASK, the native token of MASK Network, is in a short-term uptrend that started on December 30, 2023. The token gained popularity in the crypto community when Twitter CEO Elon Musk applied for a payments license for the social media messaging app, in the US.
Crypto Twitter believed MASK is the ideal choice for crypto payments on the micro-blogging platform, alongside Dogecoin and other cryptocurrencies that Musk has expressed interest in. As seen in the chart below, MASK price is in an uptrend and it recently bounced after hitting the trendline.
MASK price has stayed above the two Exponential Moving Averages (EMAs), 50 and 200-day, in its climb towards the $5.12 target. The token is likely to encounter resistances at the $4.36 level that acted as support throughout January and flipped into resistance in early February.
The $4.5 level that represents the 61.8% Fibonacci Retracement is another key level of resistance. The bullish target for MASK is $5.12, the 78.6% Fib Retracement level.
MASK/USDT 4H price chart
A decline below the two EMAs at $3.87 and $3.77 could invalidate the bullish thesis for MASK. Relative Strength Index (RSI) signals the underlying strength in MASK’s uptrend. A 25% upswing would push MASK to $5.12. The token needs to flip resistance at $4.36 into support for the rally to $5.12.
Author
Ekta Mourya
FXStreet
Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.
