$MASK has experienced a sharp drop of 35.16% in the past 24 hours, indicating strong bearish sentiment.
The high of 3.73 acted as a significant resistance while 1.735 serves as critical support.
Bollinger Bands suggest increased volatility, with the price approaching the lower band that supports further downside risk.
Current macroeconomic uncertainties, including inflation and regulatory developments, may exacerbate selling pressure.
Although Bitcoin's direct impact is unclear, past trends often show a correlation that may influence altcoin movements.
Traders may consider a short-term approach to capitalize on this volatility, given the ongoing downtrend.
Key takeaway: Tracking macroeconomic factors and technical indicators is essential in navigating MASK's turbulent price action.
