Mask Network (MASK/USD) is now trading 25% lower in 2022 and is definitely not having the start to the year that investors were hoping for after almost escaping strong resistance. MASK allows users of popular social media platforms to send cryptocurrencies, interact with decentralized applications and share encrypted content. MASK token holders can vote on ecosystem initiatives through an autonomous decentralized organization called MaskDAO. Mask was nearly 7% lower on Monday and showed no signs of reversing, even as Mask was approaching a strong support zone.

Mask may soon reverse as it is almost in a strong support zone at $7.27, however investors should be cautious and wait for a clear reversal before taking any long positions.

After a strong rally earlier this month, Mask was unable to sustain during the retest of the resistance at $13 and began to decline and has been trading continuously in the red ever since. Investors are looking for opportunities to buy the Mask before it starts to rise again, however it can be very risky as if the Mask breaks the support a huge drop can be seen so investors should only enter when a reversal clear is observed. Therefore, you must buy the mask diving

Here's what the graphs are suggesting-

  • The mask has dropped sharply since it hit the $16.5 mark, and a pullback could be seen soon, hence traders may enter soon once a clear reversal is observed.

  • Strong support can be seen at $8.7 which could be the zone that Mask would revert from, however it is not showing any signs of reversal hence it could also approach the support zone at $7.5.

  • A target of $11 can be set followed by $12 while keeping a stop loss below the zone.

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