Mask crypto price has defied gravity in the past few weeks. The coin’s price jumped to a high of $5.26, which was the highest level since April 6 of this year. It has jumped by more than 400% from it lowest level this year. Its market cap has jumped to more than $143 million. So, what next for the Mask Network?
What is Mask Network?
Mask Network is a blockchain project that seeks to introduce more changes to the web3 space. The network is backed by Digital Currency Group, Binance, Animoca Brands, and Binance. It makes it possible for people to use Web2 projects using Web3 technologies.
The platform has a browser extension that makes it possible for people to enjoy the internet in a better way. As such, people can use the software to encrypt their data, see cryptocurrency prices instantly, verify NFT avatars, and shop at popular websites instantly.
Mask Network price has risen sharply in the past few days for two main reasons. First, the recent acquisition of Twitter has brought more interest to platforms that have a social aspect. Second, the coin was recently listed in FTX, one of the biggest exchanges in the world. The listing of both spot and perpetual futures means that users from around the world have more ways to buy the coin.
Mask crypto price prediction
The daily chart shows that the MASK price has been in a strong bullish trend in the past few days. In this period, it managed to move above the first, second, and third resistance levels of the standard pivot point. It also jumped above all moving averages while the Relative Strength Index (RSI) moved above the overbought level.
Therefore, the MASK price will likely continue rising as buyers target the next key resistance level at $6.5. The stop-loss of this trade is at $4. However, after rising sharply in a short period of time, holders should consider scaling back their holdings or using a trailing stop loss.