Can MASK rebound after a 50% crash to $MASK ?
Today, let's talk about the short-term trend of MASK. The resistance level for MASK is quite obvious now; the major hurdle at 3.7133 that we reached a few days ago is significant, and there are also many trapped positions between 2.5 and 3.0 pressing down, making it hard to break through in the short term.
As for the support level, today it fell to a low of 1.7000. If this position cannot be held, there is still support around 1.85 to 1.86 near the MA30 moving average, but this support seems a bit weak now, as the price has been fluctuating around that area.
Yesterday, after MASK surged, it suddenly plummeted, leaving a long upper shadow on the candlestick. Many people were thinking about cashing out at a high position; the key is whether it can hold the support area between 1.85 and 1.86.
If it breaks below 1.7000, the downside potential may open up, as there are no clear supports below;
However, if it can stabilize between 1.70 and 1.85, there might be a chance for a rebound after the overselling, since this price level has already dropped significantly, and some funds might look to buy the dip.
Currently, MASK is more driven by short-term sentiment; the market is highly volatile, making it easy for everyone to follow trends. When it drops, some panic sell, and when it rises, others chase in, causing the price to fluctuate back and forth.
To be honest, the short-term trend of MASK doesn't look good right now, but whether there is an opportunity in the medium to long term will depend on whether the trading volume can continue to increase and whether the price can reclaim the critical resistance level of 3.0.
If it can break through 3.0 with increased volume, it indicates new funds entering the market, and the trend may reverse upward; if it continues to hover at a low level, further adjustments may be needed.
Everyone must remain calm when operating now; don’t rush to buy the dip just because of a big drop, and don’t blindly chase after a rebound.
In the short term, you can try a high short and low long strategy. Lightly buy around 1.85 to 1.86 with a stop loss below 1.70. When it rebounds to the pressure zone around 2.5 to 3.0, you can try to short, with a stop loss above 3.7.
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