Market Overview for Mask Network/Tether (MASKUSDT) on 2025-12-29

Summary
• Price declined from $0.63 to $0.604 amid bearish momentum and expanding volatility.
• Volume surged during sharp declines, indicating increased selling pressure.
• RSI hit oversold levels, suggesting a potential near-term rebound.
• Key support levels at $0.602–$0.605 tested multiple times in the final 6 hours.

Mask Network/Tether (MASKUSDT) opened at $0.628 on 2025-12-28 12:00 ET, peaked at $0.63, and closed at $0.604 by 2025-12-29 12:00 ET. The 24-hour period saw a total volume of 732,235.0 and notional turnover of $437,892.11.

Structure & Formations

The price action displayed a bearish trend with a broad descending channel forming over the course of the day. Notable bearish patterns included a key engulfing candle at $0.615–$0.604 in the early hours of 2025-12-29 and a potential bear trap near $0.62–$0.624. The price found temporary support near $0.602–$0.605 for much of the morning before a partial rebound to $0.615 in the late afternoon.

Moving Averages

On the 5-minute chart, the 20-period and 50-period SMAs both remained bearish, with the 20 SMA dipping below the 50 SMA in the late morning, forming a potential death cross. The daily chart showed a similar divergence with the 50-period SMA below the 200-period line, reinforcing the downward trend.

MACD & RSI

The MACD line turned negative after 12:30 ET, signaling a bearish shift in momentum, with the histogram showing increasing bearish divergence. The RSI reached oversold territory (below 30) near the 11:00 AM and 5:00 PM ET sessions, hinting at potential short-term rebounds. However, the RSI did not form a bullish divergence, keeping the bearish sentiment intact.

Bollinger Bands

Bollinger Bands showed increased volatility during the sharp sell-off in the early hours of 2025-12-29, with price trading below the lower band for much of that period. The bands slightly expanded after 15:00 ET, reflecting increased market activity during the partial recovery.

Volume & Turnover

Volume spiked during the sharp decline, particularly between 12:30 and 14:00 ET, as the price dropped from $0.621 to $0.598. The large volume during this leg of the move confirmed bearish conviction. However, the subsequent partial rebound saw relatively lower volume, suggesting limited follow-through buying. Turnover also surged in the early hours before settling into a more stable range during the recovery.

Fibonacci Retracements

On the 5-minute chart, the price tested the 61.8% Fibonacci retracement level (from $0.63 to $0.604) at $0.617–$0.618 on three separate occasions before breaking down. The daily chart showed a 61.8% retracement of the recent $0.63–$0.592 move at $0.614, which was briefly tested before the final close.

The price may find near-term support at $0.602–$0.605 and could see a bounce if the RSI holds above 30. Traders should remain cautious, as the bearish trend remains intact and any rally could be short-lived.