#Mask

The sudden drop of the MASK currency occurred due to the interaction of several intertwined factors over the past few days:

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🧩 Technical and Analytical Factors

• A breakout of an ascending triangle structure on the daily frame, which led to a support break at ~2.70 $ and a strong decline to the next support levels at 1.82 $ and 1.60–1.28 $  .

• A clear bearish engulfing candle formed after the price rebounded from ~3.69 $, indicating a reversal of buying pressures .

• Momentum indicators such as RSI, MACD, and Ichimoku showed negative signals and entry into an oversold area .

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🐋 Whale Activity and Poor Trading

• Significant activity was recorded from large units (“whales”). According to data, approximately 3.26 million MASK coins (≈3.26% of the total supply) were transferred to the Binance platform from one wallet, realizing a profit of about 2 million $, which caused a strong selling wave .

• Additional selling pressure erupted following these movements, accelerating the collapse to levels ~1.77–1.84 $ .

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📣 Rumors and Negative News

• Rumors emerged about the hacking of the CEO's wallet (Suji Yan), despite not being confirmed. However, trading on this news led to increased concern and rising negative liquidity among coin holders .

• It was reported that the CEO recently acknowledged that his wallet had been stolen for about ~4 million $ last February, which increased the state of distrust.