Mask Network/Tether (MASKUSDT) Market Overview for 24 Hours

• Price opened at $1.238 and surged to a high of $1.257 before correcting to a low of $1.180 and closing at $1.194.
• The 24-hour volume was 1,127,249.6 units with a turnover of $1,347,564.50, reflecting heightened activity and volatility.
• A long bearish candle on 15-minute charts at 15:45 ET suggests exhaustion in the short-term rally.
• RSI reached oversold territory briefly near 1.180, indicating potential for a rebound.
• Bollinger Bands show recent expansion, signaling increased market uncertainty.

Price Action and Volume

Mask Network/Tether (MASKUSDT) opened at $1.238 on 2025-10-09 at 12:00 ET and traded as high as $1.257 before falling to a 24-hour low of $1.180 on the 15-minute chart at 15:45 ET. The pair closed the day at $1.194, reflecting a volatile session with a total traded volume of 1,127,249.6 units and a turnover of $1,347,564.50. The sharp drop from $1.257 to $1.180 was marked by a massive 207,148.6-unit candle, suggesting a wave of profit-taking or panic selling.

Support and Resistance

Key support levels emerged at $1.210 and $1.180, with the latter acting as a psychological floor. Resistance was evident around $1.237 and $1.248. A doji candle appeared at $1.242 on the 15-minute chart at 00:45 ET, indicating indecision among traders. A bullish engulfing pattern appeared at 06:45 ET, as price closed at $1.234 from $1.238, signaling a potential short-term reversal.

Technical Indicators and Momentum

MACD remained in the negative territory for much of the session, confirming bearish momentum. RSI dipped below 30 at $1.180, hinting at oversold conditions and a potential rebound. Bollinger Bands expanded significantly from $1.248 to $1.180, indicating heightened volatility. The price closed near the lower band at $1.194, suggesting bearish bias but with potential for a bounce.

Volume and Turnover Divergences

Volume spiked to 207,148.6 at the 15:45 ET candle, the largest of the day, while price dropped from $1.210 to $1.180. This divergence between price and volume suggests strong selling pressure. The 09:30 ET candle also showed high turnover of $1.240 with 4,425.3 units, confirming buyer strength amid bearish pressure.

Backtest Hypothesis

The backtesting strategy described involves a 15-minute reversal strategy based on engulfing candles and RSI divergence. When a bullish engulfing pattern forms near an oversold RSI (below 30), the strategy assumes a short-term reversal and enters a long position with a stop-loss below the engulfing candle's low. In this case, the 06:45 ET candle (open: $1.244, close: $1.234) met the entry criteria, suggesting a potential trade. If confirmed by a follow-through candle, this pattern could be validated for a short-term bullish bias.