Musk + Twitter = pumping Mask Network price
Today we will take a look at the price chart of MASKUSDT
But first, a little bit of fundamentals:
"Mask Network is a protocol that allows users to send encrypted messages over Twitter and Facebook. Essentially, it acts as a bridge between the internet and the decentralized network running on top.
Mask Network now offers the ability to fund Gitcoin grant campaigns directly from Twitter, and plans to offer peer-to-peer payments and decentralized storage functionality."
Let's start with the fact that many market participants probably bought MASK in the liquidity zone of $3.50-5.30 in February-April 2022, because they assumed that a reversal pattern "Double Bottom" was forming (remember this liquidity zone, we will return to it).
But the result of purchases for most was sad because in May 2022 the market organized an -80% drop in the price of MASKUSD and provided a "second bottom as a gift"
As you can see from the chart, the MASKUSDT price was falling further, it seemed that no one needed MASK, and the red downtrend line did not let the price go up.
But on 26.10, a miracle happened, the MASKUSDT price broke through the trend line upwards, and how it broke through, for 4 days +200%.
This is an even better result than the DOGEUSDT price shown.
Elon Musk openly and without hesitation like to "promote to the masses" Dogecoin.
And here we get an interesting coincidence, it was on 26.10 that information began to leak into the infospace that Musk would buy Twitter by 28.10.
At this point, conspiracy theorists begin to rub their hands, because: Musk bought Twitter with which MASK is fundamentally connected
But we are trading based on what we see on the chart, so let's go back to it. Today in our vision we have two options for the development of events:
1. White option - on the hype, the price still rises to $3.50. Much higher from the first time MASK price will be difficult for it to rise, because there begins a strong liquidity zone that we mentioned earlier. Those who have been sitting in a drawdown for more than six months will actively sell off at a break-even, this is how human psychology works.
2. The blue option is the beginning of the correction to the liquid zone of $1.30 - 1.60. It is in this liquidity zone that we would not mind buying a little MASK for our long-term investment portfolio with targets for sale above $5-8
After each pump comes a correction period, and it does not matter to us whether it will be from the current $2.50 or from a possible future price of $3.50.
The main thing is to buy at a psychologically and technically comfortable price, and we know how to wait ;)
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
But first, a little bit of fundamentals:
"Mask Network is a protocol that allows users to send encrypted messages over Twitter and Facebook. Essentially, it acts as a bridge between the internet and the decentralized network running on top.
Mask Network now offers the ability to fund Gitcoin grant campaigns directly from Twitter, and plans to offer peer-to-peer payments and decentralized storage functionality."
Let's start with the fact that many market participants probably bought MASK in the liquidity zone of $3.50-5.30 in February-April 2022, because they assumed that a reversal pattern "Double Bottom" was forming (remember this liquidity zone, we will return to it).
But the result of purchases for most was sad because in May 2022 the market organized an -80% drop in the price of MASKUSD and provided a "second bottom as a gift"
As you can see from the chart, the MASKUSDT price was falling further, it seemed that no one needed MASK, and the red downtrend line did not let the price go up.
But on 26.10, a miracle happened, the MASKUSDT price broke through the trend line upwards, and how it broke through, for 4 days +200%.
This is an even better result than the DOGEUSDT price shown.
Elon Musk openly and without hesitation like to "promote to the masses" Dogecoin.
And here we get an interesting coincidence, it was on 26.10 that information began to leak into the infospace that Musk would buy Twitter by 28.10.
At this point, conspiracy theorists begin to rub their hands, because: Musk bought Twitter with which MASK is fundamentally connected
But we are trading based on what we see on the chart, so let's go back to it. Today in our vision we have two options for the development of events:
1. White option - on the hype, the price still rises to $3.50. Much higher from the first time MASK price will be difficult for it to rise, because there begins a strong liquidity zone that we mentioned earlier. Those who have been sitting in a drawdown for more than six months will actively sell off at a break-even, this is how human psychology works.
2. The blue option is the beginning of the correction to the liquid zone of $1.30 - 1.60. It is in this liquidity zone that we would not mind buying a little MASK for our long-term investment portfolio with targets for sale above $5-8
After each pump comes a correction period, and it does not matter to us whether it will be from the current $2.50 or from a possible future price of $3.50.
The main thing is to buy at a psychologically and technically comfortable price, and we know how to wait ;)
_____________________
Did you like our analysis? Leave a comment, like, and follow to get more
🎁 -20% on ALL trading fees OKX
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
okx.com/join/20PSTRADE
🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.