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.

Also read: Shiba Inu vs. Dogecoin, which meme coin will hit the $1 bullish target first?

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.

Share: Cryptos feed

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Join Telegram