$MASK /USDT saw a sharp spike followed by a sudden drop, catching many traders off guard. Let's break it down:
🧠 Technical Breakdown
📍 Daily Chart (1D):
Price peaked near $4.00, showing a mind-blowing 12674% move on leverage (100x) before retracing hard.
The sharp red candle indicates strong profit-taking or a liquidity sweep after the parabolic run.
Support held around the 1.90 zone (previous breakout level), with the 20 EMA (green) acting as dynamic support.
Price is currently trying to stabilize near $1.91–$1.94.
📍 Monthly Chart (1M):
Triple bottom structure forming around the $1.90 zone – a strong historical support.
However, a descending neckline and repeated rejections (marked H for highs) suggest a macro bearish head & shoulders pattern.
The recent bounce may be part of a larger accumulation phase, but caution is warranted.
❓Why the sudden fall?
Overheated rally: Fast climb often leads to fast corrections.
Whale exits / liquidation spikes after a leveraged move.
False breakout trap above $3.00, shaking out late buyers.
📈 Will it go up again?
Yes, short-term bullish potential exists if $1.90 support holds and we see volume picking up again. However, a break below $1.85 could signal deeper downside toward $1.20 or even $0.65.
🕰️ Best Entry Point
Safer entry: Wait for consolidation and bullish reversal near $1.85–$1.90.
Aggressive entry: If reclaiming $2.00+ with strong volume, targeting $2.50–$3.00.
Exit/Stop-loss: Under $1.85 for risk management.
📌 Final Note:
$MASK is volatile and can offer big rewards, but also major risk. Wait for confirmation candles on the daily before entering. Patience is key! 🧘♂️
💬 What’s your plan — dip buying or waiting for the breakout?
Let's Trade $MASK
