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The Mask Network, a protocol that claims to be the portal to a brand new and open web, is attracting curiosity this week. Its native token, MASK, is making parabolic strikes. In simply two days, MASK has greater than doubled in worth. The token touched a excessive of $5.90 on Thursday, from $2.30 on November 2. MASK has been on a bullish momentum for the previous week, having recovered from a low of barely above $1.
Mask Network goals to introduce privateness and Web3 functionalities to social media, together with Twitter and Facebook. The web3 platform permits privateness by means of the encryption of messages disseminated by means of social media platforms. The community goals to take action by means of an open-sourced browser extension. Mask additionally permits different Web3 fields, comparable to NFTs and DeFi.
MASK, the native token, is surging on rising prospects of extra use instances round Elon Musk’s acquisition of Twitter. The token initially helps Mask Network’s governance. Lately, Binance introduced it was launching the “Bluebird Index.”
MASK is one of many cryptocurrencies within the index alongside BNB and DOGE. The transfer has ignited traders’ curiosity in MASK, which might be core to Twitter’s cost. That follows a new-found bond between Binance and Musk after the previous grew to become a financier within the Twitter acquisition. A technical outlook, nonetheless, exhibits that MASK is overbought and dealing with resistance.
MASK meets resistance after the most recent positive aspects
Source – TradingView
A weekly technical outlook exhibits that MASK has a longtime resistance at $5.9. The cryptocurrency has corrected barely after assembly the resistance. An RSI studying of 70 means that the token is overbought. However, the cryptocurrency broke previous the 20-day and 50-day MA. A break above the latter may nonetheless be invalidated if MASK closes beneath.
Should you purchase MASK?
The thought of utilizing MASK as one of many cost mediums on Twitter may proceed to spice up the cryptocurrency. Nonetheless, the token is not buying and selling at a gorgeous degree. A correction is probably, and traders may think about shopping for decrease. Alternatively, traders can purchase when MASK breaks out on the resistance.
Where to purchase MASK
Binance
Binance is one of many largest cryptocurrency exchanges on the earth. It is higher suited to extra skilled traders and it affords numerous cryptocurrencies to select from, at over 600.
Binance is additionally recognized for having low buying and selling charges and a a number of of buying and selling choices that its customers can profit from, comparable to; peer-to-peer buying and selling, margin buying and selling and spot buying and selling.
KuCoin
Kucoin is a cryptocurrency alternate which affords over 200 cryptocurrencies.
Kucoin has a variety of providers, comparable to; a built-in peer-to-peer alternate, spot and margin buying and selling, financial institution degree safety and a variety of accepted cost strategies.
Users can profit from a beginner-friendly interface and comparatively low charges.
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