Market Overview for Mask Network/Tether (MASKUSDT)

• Mask Network/Tether (MASKUSDT) traded lower over the past 24 hours, closing near a key support level.
• Price formed multiple bearish patterns and failed to reclaim key resistance levels.
• Volatility increased in the afternoon, with a large-volume candle confirming bearish sentiment.
• RSI indicated oversold conditions briefly, but volume failed to confirm a reversal.
• A Fibonacci 61.8% level on the 15-minute chart aligned with recent support, suggesting possible consolidation.

Mask Network/Tether (MASKUSDT) opened at $1.288 on 2025-10-05 at 16:00 ET and closed at $1.296 on 2025-10-06 at 16:00 ET. The price reached a high of $1.300 and a low of $1.263 over the 24-hour period. Total trading volume amounted to approximately 331,000 units, while notional turnover totaled around $419,000. The pair experienced a mix of bearish and bullish pressure, with a bearish bias dominating in the early part of the session.

Structurally, the price action revealed bearish dominance throughout most of the session, with bearish engulfing and dark cloud cover patterns emerging from 17:00 to 22:00 ET. A bearish inside bar appeared at the close of the session on 2025-10-05 before a small bullish rebound began in the early hours of 2025-10-06. Notable support levels were seen near $1.271–$1.274, and resistance levels around $1.287–$1.291 failed to hold during bearish selloffs.

The 20-period and 50-period moving averages on the 15-minute chart remained bearish through the session, with the price frequently trading below both. The daily 50-period MA appears to be a key level for near-term momentum direction. MACD showed bearish divergence in the late session, with negative crossovers reinforcing downward bias. RSI reached oversold territory during the 22:00–24:00 ET window but lacked the volume to suggest a reversal.

Bollinger Bands expanded as volatility increased during the afternoon, with the price testing the lower band at key support levels. A contraction in the bands occurred in the early morning hours of 2025-10-06, followed by a break above the middle band. The 23.6% and 38.2% Fibonacci retracement levels on the 15-minute chart aligned with recent support, while the 61.8% level coincided with a potential short-term bounce zone.

Volume and turnover were generally in line with price action, showing increased bearish participation during key selloffs. A large-volume candle at 20:30 ET indicated strong bearish pressure, but follow-through waned in the following hours. Price and turnover diverged slightly in the early morning as volume failed to confirm the strength of the rebound, suggesting a possible test of the $1.274–$1.276 range before a potential retest of $1.268 in the next 24 hours.

Backtest Hypothesis

The provided backtesting strategy involves identifying bearish engulfing patterns at key Fibonacci 61.8% levels on the 15-minute chart, followed by a short entry if a bearish confirmation candle forms with increased volume. During the 24-hour period, such a setup was observed at $1.275 on 2025-10-05 at 20:30 ET, where a large-volume bearish candle formed at the 61.8% retracement level. A short entry at the open of the next candle would have captured the subsequent drop to $1.268 with a stop just above $1.285. While this pattern provided a strong signal in the context of an ongoing downtrend, it would require confirmation of a larger bearish structure to mitigate false signals.