Mask Network/Tether (MASKUSDT) Market Overview

• Mask Network/Tether opened at $1.327, reached a high of $1.343, and closed at $1.314, with a 24-hour low of $1.310.
• Price dropped sharply post-22:15 ET, forming a bearish engulfing pattern and breaking below key support at $1.330.
• Volume surged during the selloff, confirming bearish momentum with a total 24-hour volume of 886,408.
• RSI entered oversold territory near 30, suggesting potential short-term bounce, but with caution due to bearish bias.
• Bollinger Bands showed expansion during the selloff, indicating increased volatility and potential continuation of the downtrend.

Market Overview

Mask Network/Tether (MASKUSDT) opened at $1.327 on 2025-09-13 at 12:00 ET, reached a high of $1.343, and closed at $1.314 by 12:00 ET on 2025-09-14. The 24-hour session saw a low of $1.310 and total volume of 886,408 tokens traded with a notional turnover of approximately $1.15 million.

Structure & Formations

The price action displayed multiple key levels. A strong bearish engulfing pattern formed between 22:15 and 22:30 ET as price dropped from $1.343 to $1.339 and then continued lower. This was followed by a breakdown below the key $1.330 support level, which now appears to be acting as resistance. A doji formed near the 24-hour low at $1.310 at 04:15 ET, signaling possible exhaustion in the bearish move.

The 15-minute chart revealed a descending triangle pattern forming in the last 12 hours, with the upper trendline resistance at $1.343 and a lower trendline support near $1.310. A break below $1.310 could target the next significant support at $1.300.

Moving Averages & Momentum

The 15-minute chart shows the price below the 20 and 50-period SMAs, reinforcing the bearish bias. The daily chart shows the 50 and 100-period SMAs crossed below the 200-period SMA, forming a death cross pattern that may signal a deeper downtrend.

The MACD (12, 26, 9) turned negative during the selloff, with the histogram shrinking after 05:00 ET, suggesting a potential pause in bearish momentum. RSI has entered the oversold zone near 30, indicating that further short-term rebounds may occur, but this does not confirm a reversal.

Bollinger Bands & Volatility

Bollinger Bands expanded significantly during the sell-off, with the price dropping below the lower band. The volatility spike was confirmed by the sharp volume increase and the rapid move from $1.343 to $1.310 within 6 hours. This type of expansion typically precedes a continuation of the trend unless a reversal pattern is confirmed.

The current price of $1.314 sits at the lower edge of the bands, near the 24-hour low, suggesting the pair could continue to test the $1.300 level.

Volume & Turnover

Volume spiked during the bearish move, particularly between 22:15 and 04:15 ET, with the highest 15-minute volume hitting 112,006 tokens at 22:15 ET. This volume confirmed the bearish breakout, as it aligned with the price decline.

Turnover also surged during this period, with a peak of $154,277 at the same time. The alignment between volume and turnover supports the validity of the move. However, the lack of follow-through volume post 05:00 ET suggests some short-term profit-taking or bearish exhaustion.

Fibonacci Retracements

Applying Fibonacci retracement levels to the most recent 15-minute swing (from $1.343 to $1.310), the 38.2% retracement is at $1.327 and the 61.8% at $1.322. These levels are currently acting as minor resistance zones.

On the daily chart, Fibonacci levels for the broader move (from recent highs to the 24-hour low) suggest potential support at $1.300 (61.8% retracement). A bounce from this level could test the 38.2% retracement at $1.320 in the next 48 hours.

Backtest Hypothesis

A potential backtest strategy could involve entering a short position upon a confirmed break below the $1.330 support with a stop-loss placed just above $1.335. A take-profit target could be set at $1.300, with partial profit-taking at the 61.8% Fibonacci level ($1.322). This setup would align with the descending triangle and death cross signals, providing a high-probability trade based on the recent bearish momentum and volume confirmation.