Market Overview: Mask Network/Tether (MASKUSDT) on 2026-01-08

Summary
• Price tested key support near 0.645–0.650 before consolidating.
• Momentum weakened with RSI below 30 and MACD near zero.
• Volatility dropped as price remained within Bollinger Bands.
• Volume surged post-15:00 ET during a bullish reversal.

Mask Network/Tether (MASKUSDT) opened at 0.666 on 2026-01-07 at 12:00 ET, reached a high of 0.673, and closed at 0.656 at 12:00 ET on 2026-01-08. The pair traded within a range of 0.645–0.673, with total volume of ~164,743.8 and turnover of ~106,899.6 USDT over the 24-hour window.

Structure & Formations

The price action displayed a bearish breakdown from a key resistance at 0.666–0.670, followed by a consolidation phase near 0.653–0.658. A potential bullish reversal pattern formed between 0.648 and 0.652 in the afternoon, with higher volume reinforcing the formation. On the daily chart, 0.645 appears to be a critical support level that was tested twice, holding firm to prevent further downside.

Moving Averages

On the 5-minute chart, the 20-period and 50-period SMAs have been declining, with price oscillating around the 50-line. On the daily timeframe, the 200-period SMA at ~0.640 remains a long-term reference point, with the 50 and 100-period lines converging below 0.650, suggesting a bearish bias in the longer term.

Momentum Indicators

RSI has dipped below 30 and appears to be entering oversold territory, hinting at a potential short-term bounce. MACD remains near zero with a weak positive histogram, indicating waning momentum but no clear bearish acceleration.

Volatility & Bollinger Bands

Volatility contracted during the night session, with price staying within a narrow band between 0.653 and 0.661. Bollinger Bands are currently converging, which could precede a breakout or a continuation of the current consolidation phase.

Volume and Turnover Analysis

Volume spiked above average in the early afternoon, particularly around 15:00–16:00 ET, coinciding with a pullback from 0.661 to 0.658. Turnover during this period suggests increased participation and a possible short-covering scenario.

Fibonacci Retracements

On the 5-minute chart, price found support near the 61.8% retracement level of the 0.653–0.661 move. On the daily chart, the 38.2% retracement of the larger move from 0.645 to 0.673 now sits at 0.663, acting as a potential overhead barrier for any near-term rally.

Looking ahead, a test of 0.662–0.664 could signal a short-term bullish attempt, but a break below 0.650 may reignite bearish pressure. Investors should monitor volume behavior on any bounce, as a divergence could hint at a deeper correction.