Is $MASK simply in a #MarketPullback or is this a pump-and-dump scene?
Well, we’ve got a big green candle pushing the price from around 2.0, breaking resistance at 2.8885, and spiking all the way to nearly 3.4, with a monster volume surge—tons of buyers jumped in, triggering short stop-losses too.
But then, wham! A long red candle dropped sharply to 1.8326 in just a day or two—total bull trap with a bunch of buyers stuck at the top and a heavy distribution phase kicking in.
The MACD’s turned bearish now, with the blue line cutting below the orange signal line and the histogram going red, showing strong downward momentum.
Price also overshot the Upper Bollinger Band and EMA200 before snapping back—classic mean-reversion after that wild daily stretch.
Looks like the initial surge was a liquidity sweep before trapping buyers with aggressive distribution. If you’re long, watch out—consider cutting losses if it dips below EMA50 (~1.80) or 1.75.
For short or scalp plays, look for a rejection at 2.0–2.1, with a first target at 1.50. If #Mask can’t reclaim 2.0 and EMA50/100 holds it down, we might see a big drop to 1.50 or even 1.00–1.20.
A bullish turnaround only kicks in with a solid daily close above 2.0 and MACD crossing up again.
Final take: I think, this isn’t an uptrend continuation, it’s a classic pump-and-dump/distribution, so be careful if you’re still holding long!
