Mask Network price analysis 07/03:MASK hikes 27% After a Huge $14.8M whale Transaction

SNEAK PEEK:

• The Mask network is currently trading at $4.16, marking a 27% increase from its opening price of $3.27.
• An impressive number of 3.6M MASK tokens were withdrawn from the four major exchanges, leading many to believe that this whale is driving up the price.
• The trading volume for MASK has surged by more than 786 percent after the whale’s withdrawal.

The Mask Network price surge could be a sign of the new bull market, with whales taking advantage of the opportunity ahead. By moving these tokens away from exchanges and into their own wallets, whales are able to drive up prices and take in huge profits. As long as traders can identify this whale’s movements and act accordingly, they too may be able to reap similar rewards.

The MASK token is currently trading at $4.16, marking a 27 percent increase from its opening price of $3.27. This is an encouraging sign for traders and investors interested in the future of the Mask Network. The major exchanges can expect more activity in the near future as traders flock to take advantage of this whale’s movements.

The 24-hour trading volume for MASK/USD is currently at $427 million, with a 786 percent increase since the whale’s withdrawal. This is a significant indication of the potential of the Mask Network and could be an indication that we are in a new bull market. Looking at the market cap, the token is currently valued at $262 million, an increase of more than 24 percent.

The support level for the Mask Network price is currently at $3.27, and a break below this level could indicate a further drop in prices. On the upside, the resistance level for MASK/USD is currently at $4.21. 

A break above this level could see prices surge higher. The relative strength index (RSI) is currently at 52.01, indicating that the market may be slightly overbought and could experience a minor correction.

The bulls were successful in keeping the price of MASK above the 50-day moving average and the 20-day moving average. This indicates that the trend remains bullish in short to medium term. 

The Bollinger bands are expanding, indicating a high level of volatility. The upper Bollinger band is at $4.33, and the lower Bollinger band is placed at $3.29, which could be a sign of a potential breakout in either direction in the near future.

In conclusion, the whale’s large withdrawal caused a surge in the price of Mask Network and could be indicative that we are entering a new bull market. Traders should keep an eye on this token as it is likely to experience more volatility in the near future. 

The support and resistance levels are currently at $3.27 and $4.21, respectively, and a break above or below these levels could significantly affect the price of MASK/USD.

Disclaimer: In good faith, we disclose our thoughts and opinions in our price analysis and all the facts we give. Each reader is responsible for his or her investigation. Reader discretion is advised before taking any action.

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• Source: https://investorbites.com/mask-network-price-analysis-07-03/