The Mask Network token has recently exhibited significant fluctuations, peaking and then sharply declining. This article explores the reasons behind these changes.
Rise of Mask Network Token
The Mask Network token reached a value of $3.6766, marking its highest point since last December. However, it soon lost these gains, dropping to around $2.
Whale Selling Data
Recent data indicates that the number of whale transactions surged to 26, marking the highest level since May 28. Analysis suggests that whales are actively selling Mask tokens, with their holdings dropping to an all-time low of 28.26 million.
Technical Analysis of Mask Network Price
Technical analysis shows that the MASK price surged to a high of $3.7020, before experiencing a sharp decline to $2.3300, breaking key support at $2.50. The Relative Strength Index fell from 80 to 54, indicating a likelihood of continued declines, potentially reaching $0.9475.
The Mask Network token exhibits high volatility, raising concerns among investors. The coming weeks will be crucial for its future trajectory.
