bullish

Mask Network

The Mask

Bitcoin

April

The Mask Network token rose for three consecutive days, reaching a high of $3.23, its highest level since June 10.&nbsp; 
Mask Network (<a rel="" href="https://crypto.news/price/mask-network/">MASK</a>), a privacy-focused platform, has risen by 108% from its lowest level this year, bringing its market cap to over $303 million.&nbsp; 
The rebound happened as the crypto fear and greed index rose to the greed zone of 67, its highest level in months. 
It also coincided with a spike in the futures open interest, which jumped to $90.16 million, its highest level since April 2. Most of this volume was in Binance followed by Bybit, OKX, and Bitget.&nbsp; 
Its intraday volume also jumped to the highest level in over a year. It had a volume of $482 million, up from $83 million a day earlier, pointing to more demand for the coin. This rally was likely because of the upcoming <a rel="nofollow" href="https://x.com/realMaskNetwork/status/1849812173804933421" target="_blank">Web3 Social Day</a> in Bangkok where members of the team will participate.&nbsp; 
For beginners, Mask Network is a company that aims to boost privacy across top social media platforms like X, Instagram, and Facebok. Users sign up, install the website application, and then start communicating.&nbsp; 
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<h2 class="wp-block-heading" id="mask-network-token-rally-continued">Mask Network token rally continued</h2> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/10/Mask-Network-Price.png" alt="Mask Network" class="wp-image-14307010">
 <figcaption class="wp-element-caption">
 MASK chart | Source: <a href="https://www.tradingview.com/symbols/MASKUSDT/?exchange=BINANCE" target="_blank" rel="nofollow">TradingView</a>
 </figcaption>
</figure> 
The Mask token bottomed at $1.527, its lowest point on Au. 5, and has more than doubled since then.&nbsp; 
This week, the token crossed the important resistance point at $2.571, its highest point on Oct. 5. It then rallied to its highest level since April.&nbsp; 
As it jumped, it has moved above the 200-day and 50-day Exponential Moving Averages, meaning that bulls are in control.&nbsp; 
The coin has also risen above the Ichimoku cloud indicator and is nearing the 38.2% Fibonacci Retracement level. It also formed an inverse head and shoulders pattern, a popular bullish reversal sign. 
Therefore, Mask Network token will likely continue rising as buyers target the 50% retracement point at $4, which is 28% above the current level. 
The alternative scenario is where the token gives up these gains and retests the support at $2.57 as some traders start to take profits. 
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Mask Network token surges; open interest hits 7-month high

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