Market Overview for Mask Network/Tether (MASKUSDT) on 2025-11-03

• Mask Network/Tether declined 11.8% on elevated volume, testing key Fibonacci support levels.
• RSI approached oversold territory, while MACD signaled bearish momentum with bearish crossover.
• Bollinger Band contraction and high volume divergence suggest potential short-term reversal risks.
• Strong intraday sell-off accelerated after 15:30 ET, with price closing near session low.
• Market appears to consolidate near 0.76–0.765 support; break below this risks extended downside.

Overview and Daily Performance

Mask Network/Tether (MASKUSDT) opened at 0.84 on 2025-11-02 at 12:00 ET and closed at 0.762 by 12:00 ET on 2025-11-03, reaching a high of 0.861 and a low of 0.727. The 24-hour candle recorded a total volume of 1.95 million and a notional turnover of $1,534,747. The price action appears to have been driven by sustained bearish momentum, particularly after 15:30 ET, when a sharp drop pushed the pair near critical support levels.

Structure & Formations

The candlestick structure over the last 24 hours shows a bearish exhaustion pattern, especially in the final 4.5-hour window from 15:30 to 19:45 ET, where multiple long bearish candles with small bodies emerged, signaling distribution. Key Fibonacci levels from the 0.861 high to the 0.727 low (23.6% at 0.831, 38.2% at 0.814, and 61.8% at 0.763) were tested, with the 0.76–0.765 range acting as immediate support. A bearish engulfing pattern formed near the 0.818–0.803 pivot point, reinforcing the downward trend.

Moving Averages and MACD/RSI

On the 15-minute chart, the 20- and 50-period moving averages were in a steep downward slope, reinforcing bearish bias. The 50-period MA crossed below the 100- and 200-period lines, forming a bearish death cross. MACD remains negative with a bearish crossover confirmed around 16:45 ET, as bearish momentum picked up. RSI hit a 23.5 low near the 19:45 ET time stamp, entering oversold territory, suggesting a possible near-term bounce.

Bollinger Bands and Volatility

Bollinger Bands show a notable contraction starting at 15:15 ET, followed by a sharp price move below the lower band by 15:45 ET. This indicates increased volatility and potential for a reversal. However, the price failed to hold above the 0.76–0.765 support range, suggesting continued bearish bias in the near term. The width of the bands also widened after the 16:00 ET break, confirming the breakout move to the downside.

Volume and Turnover

Volume surged sharply during the 15:30–16:30 ET window, reaching a peak of 522,507 at 15:45 ET, which coincided with the most aggressive leg of the bearish move. Notional turnover spiked in line with volume, showing no divergence and indicating strong conviction in the bearish move. The high volume during this period, however, did not result in a retest of the 0.763 Fibonacci level, suggesting further weakness is likely unless a strong reversal candle forms.

Backtest Hypothesis

Given the RSI approaching oversold levels and Bollinger Bands contraction, a potential backtesting hypothesis could be to test an RSI-based overbought/oversold reversal strategy on this pair. Using RSI(14) to trigger long entries when it falls below 30 and exits when it crosses back above 40 could provide an actionable framework. Given the strong volume confirmation during the selloff, this strategy might have had a higher success rate in capturing a short-term bounce from the 0.76–0.765 range.