Summary
• Price declined from 0.611 to 0.591, breaking a 5-minute resistance.
• Volume spiked sharply during the downward move, confirming bearish momentum.
• RSI hit oversold territory below 30, suggesting potential for a near-term bounce.
• Bollinger Bands widened, reflecting increased volatility in the final hours.
• A long lower shadow at 0.591 suggests initial support is being tested.
Mask Network/Tether (MASKUSDT) opened at 0.606 on 2025-12-13 12:00 ET, hit a high of 0.611, a low of 0.589, and closed at 0.591 on 2025-12-14 12:00 ET. Total volume across the 24-hour period was approximately 343,958.9, with a notional turnover of $194,601. The price action reflects a strong bearish sentiment over the last 24 hours, supported by a significant increase in volume during the decline.
Structure & Formations
Price action on the 5-minute chart shows a bearish breakout from a short-term consolidation range around 0.609. A 5-minute bearish
engulfing pattern formed at 18:45 ET, signaling a shift in momentum. A long lower shadow appears at 0.591, suggesting that short-term sellers may be pausing, though this level remains under test. No significant doji or bullish reversal patterns emerged during the session.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages both sloped downward, reinforcing the bearish trend. On the daily chart, price closed below the 50, 100, and 200-period moving averages, maintaining a bearish alignment across multiple timeframes.
MACD & RSI
The 5-minute MACD crossed below the signal line with a negative histogram, confirming bearish momentum. RSI dropped below 30 in the final hours, entering oversold territory, which may encourage short-term buying interest. However, the RSI divergence suggests caution — price has continued lower despite a potential bounce signal.
Bollinger Bands
Bollinger Bands expanded significantly in the last 6 hours of the session, indicating rising volatility. Price closed near the lower band at 0.591, a common setup for potential rebounds. A retest of the 0.606–0.607 range could determine whether the move down is exhausted or if further correction is in store.
Volume & Turnover
Volume and turnover surged during the 14:45–15:00 ET and 16:45–17:00 ET windows, coinciding with major price declines. The volume-to-price alignment suggests distribution pressure and lack of immediate buyers. Turnover diverged slightly with the last price leg down, hinting that selling pressure may be moderating.
Fibonacci Retracements
Key 5-minute retracement levels include 0.606 (38.2%), 0.602 (50%), and 0.598 (61.8%). The 0.598 level saw resistance, with price bouncing briefly before continuing lower. On the daily chart, the 0.595–0.597 range represents a critical psychological and Fibonacci support level to watch for a potential rebound.
The market appears to be testing key support levels, with oversold RSI suggesting a short-term bounce is possible. However, a sustained close above 0.605 would be needed to reduce bearish bias. Investors should remain cautious for further downside if key levels like 0.592 fail to hold in the next 24 hours.
Comments
No comments yet