Mass Network (MASK) is moving in a positive price trajectory, following BTC’s upward movement after a long downward period. The MASK price has surged by 5.67% over the last 24 hours and 1.34% over the last week.
According to CoinMarketCap, MASK is currently trading at $0.4495, supported by a trading volume of $34.44 million, up significantly by 136.03% over the last 24 hours. Furthermore, its market capitalization stands at $44.93 million, which has also surged by 5.67%.
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MASK Token Confirms Major Bullish Breakout
The token MASK traded by the Mask Network has now confirmed its bullish breakout past its major descending trend line.
As stated by crypto analyst Clifton Fx, MASK has now confirmed its bullish breakout past its major descending trend line, as the asset has consolidated under the resistance level for the past few days, with traders anticipating this move as buying pressure was building and increasing across the chart.
As the breakout is now confirmed, analysts are speculating that the token could be on its way to the next technical level at $0.60.
This price represents an important resistance level based on the previous price structure. As long as the price holds above the previous trend line and the sentiment remains positive, the bullish momentum could continue growing.
Technical Indicators Point to Bullish Momentum
According to TradingView, the RSI level is at 60.01. This indicates that the cryptocurrency has a bullish bias but has not reached the overbought level of 70.
It shows that there is still room for the cryptocurrency to continue going up. Moreover, the RSI line remains above the yellow line, which indicates that the positive momentum has been successfully supported after the decline.
This trend is further supported by the MACD indicator, which has produced another bullish crossover for the stock, as the blue line has moved higher than the orange line.
This change is clearly visible in the histogram, where the green bars are growing, showing higher buying pressure for the stock. Although the trend is positive, the line is becoming flat, showing that the stock might consolidate at the current price.
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