Market Overview for Mask Network/Tether (MASKUSDT) on 2025-11-08

Summary• Price rallied to 0.873 before retracing to close at 0.848, showing mixed momentum.
• Volume spiked in the afternoon, suggesting heightened interest and short-term volatility.
• RSI hovered around neutral levels, indicating no immediate overbought or oversold signals.
• Bollinger Bands show a moderate contraction in volatility during late trading hours.
• A bullish engulfing pattern formed earlier in the day but failed to hold, signaling potential indecision.

Opening and Closing Price Action

Mask Network/Tether (MASKUSDT) opened at 0.824 on 2025-11-07 12:00 ET and reached a high of 0.873 the following day. The price then pulled back and closed at 0.848 at 12:00 ET on 2025-11-08. The total trading volume over the 24-hour period was 1,728,420.3 units, with a notional turnover of approximately $1.45 million, based on the given dataset.

Structure & Formations

The price action showed a strong bullish engulfing pattern early in the session, followed by a consolidation phase with a notable bearish correction in the late afternoon. Key resistance was tested around the 0.873 level, which failed to hold, suggesting bearish pressure could resume. A strong support level appears to be forming around 0.830–0.835, as the price found support multiple times during the retracement phase.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were closely aligned around the 0.850–0.855 range, with price fluctuating above and below during the session. On the daily chart, the 50-period MA is below the 100-period and 200-period MAs, indicating a potential bearish bias at a longer time horizon.

MACD & RSI

The MACD showed a mixed signal, with the line crossing zero in the morning, followed by a bearish crossover in the afternoon. The RSI remained in neutral to overbought territory for most of the session, peaking at around 65 before declining toward the 50–55 range, suggesting a balance between buyers and sellers.

Bollinger Bands

Price activity was contained within the Bollinger Bands for most of the session, with a noticeable contraction in volatility between 03:00 ET and 06:00 ET. By the afternoon, the bands expanded, indicating a potential increase in market uncertainty.

Volume & Turnover

Volume and turnover peaked around 18:30–19:30 ET and again in the late evening, with relatively lower activity during the overnight hours. The price failed to hold above key resistance after high-volume buying, raising concerns about the strength of the bullish move.

Fibonacci Retracements

Fibonacci levels drawn from the 0.821–0.873 swing show that the price tested the 0.618 retracement level at 0.850–0.855 before consolidating. A break below the 0.50 (0.847) level could target the next Fibonacci level at 0.830, where additional support may be found.

Backtest Hypothesis

The backtesting strategy described here integrates key technical patterns like the Bullish Engulfing candlestick and supports levels identified through historical price action. By combining these signals with a fixed 5-day holding period, the strategy aims to capture short-term bullish momentum while limiting exposure. The approach avoids subjective filters like stop-loss or take-profit, relying purely on price patterns and levels. This aligns well with the observed 15-minute and daily chart structure for MASKUSDT, where such patterns are frequently observed. The performance of this strategy on similar price dynamics could offer insights into potential entry and exit strategies.