$MASK Looking at the monthly chart for MASK/USDT, it's clear that we are still in the early stages of a potential long-term recovery. The price has managed to bounce off a low of 0.966 USDT, indicating strong support at that level. This bounce has resulted in a gradual upward movement, pushing the current price above the 3 USDT mark.
Key Points Observed:
1. Early Uptrend Formation: The price has crossed key moving averages on the monthly chart, suggesting that the bearish momentum is losing steam. While the 21-day EMA is acting as a resistance near 3.5 USDT, a sustained close above this level could be a bullish confirmation.
2. Volume Patterns: Recent months have shown a decrease in selling volume, indicating that the strong downtrend may be coming to an end. As buying volume increases, it could support a stronger price recovery.
3. RSI Indicator: The monthly RSI is around 48, indicating a neutral zone, but with room to push higher as positive momentum builds.
Conclusion: The monthly chart suggests that MASK is in the early stages of a potential recovery. Breaking above key resistance levels and increasing volume could lead to a significant rally in the coming months. This might be a good opportunity for long-term holders to consider accumulating, as the market appears to be gearing up for a sustained upward move.
Of course, staying cautious with stop-loss levels and tracking key resistance points is essential for managing risk effectively.
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