The Masks Community, 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.
Masks Community goals to introduce privateness and Web3 functionalities to social media, together with Twitter and Fb. The web3 platform allows 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. Masks additionally allows 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 Masks Community’s governance. Currently, Binance introduced it was launching the “Bluebird Index.”
MASK is among the cryptocurrencies within the index alongside BNB and DOGE. The transfer has ignited traders’ curiosity in MASK, which may very well 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, reveals that MASK is overbought and dealing with resistance.
MASK meets resistance after the most recent good points
Supply – TradingView
A weekly technical outlook reveals 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. Nonetheless, the cryptocurrency broke previous the 20-day and 50-day MA. A break above the latter might nonetheless be invalidated if MASK closes beneath.
Do you have to purchase MASK?
The concept of utilizing MASK as one of many cost mediums on Twitter might proceed to spice up the cryptocurrency. Nonetheless, the token isn’t buying and selling at a lovely degree. A correction is probably going, and traders might contemplate shopping for decrease. Alternatively, traders can purchase when MASK breaks out on the resistance.
The place to purchase MASK
Binance
Binance is among the largest cryptocurrency exchanges on the earth. It’s higher suited to extra skilled traders and it provides a lot of cryptocurrencies to select from, at over 600.
Binance can be 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 provides 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.
Customers can profit from a beginner-friendly interface and comparatively low charges.