This chart of MASK/USDT shows the formation of a symmetrical triangle, which is a classic model of uncertainty. A symmetrical triangle indicates that the market is preparing for a strong movement, but it is still unclear in which direction. The current price (around 3.258) is closer to the upper boundary of the triangle, which may indicate a possible attempt to break upwards if there is enough volume.
Key levels:
The upper boundary of the triangle serves as resistance. If the price exceeds this level with high volume, it may indicate a strong bullish movement.
The lower boundary of the triangle acts as support. A breakout below may lead to a bearish scenario and a potential decline to lower levels.
The Ichimoku indicator is also present on the chart and shows a cloud with a predominance of red color, indicating long-term uncertainty or market weakness. It is worth noting that the price is closer to the upper boundary of the cloud, which may signal a trend change when exiting the triangle upwards.
Possible scenarios:
1. Bullish breakout – if the price exceeds the upper boundary with high volume, the next significant resistance level may be around 4.5-5.0.
2. Bearish breakout – if the price breaks below the lower boundary, the potential decline may be to levels around 1.5-1.8.
Recommendations for actions:
Set alerts for breakout of the triangle boundaries.
Confirmation for a buy may occur if the price consolidates above the triangle and the Ichimoku cloud with increased volume.
In case of a downward breakout, consider a short position or exit from the asset.
