Market Overview for Hooked Protocol/Tether

Summary
• Price consolidated in a 0.0392–0.0406 range, with key resistance at 0.0401–0.0404.
• Momentum waned after a late-night rally, with RSI showing overbought signs.
• Volatility expanded post-midnight, but volume remained uneven, lacking confirmation.
• A bullish engulfing pattern formed at 0.0399, followed by indecision around 0.0401.
• Fibonacci retracement levels at 0.0401 and 0.0395 mark potential turning points.

Market Overview

Hooked Protocol/Tether (HOOKUSDT) opened at 0.0397 on 2026-01-02 12:00 ET, peaked at 0.0404, and closed at 0.04 on the next day. The 24-hour volume totaled 3,390,164.5 with a notional turnover of 135,573.33.

Structure & Patterns

Price moved within a well-defined 0.0392–0.0406 channel, with a key resistance forming at 0.0401–0.0404 and support anchoring at 0.0395–0.0397. A bullish engulfing pattern appeared near 0.0399 during the late evening, suggesting a short-term reversal attempt, but a doji at 0.0401 later signaled indecision and potential exhaustion.

Moving Averages and Indicators

On the 5-minute chart, price closed below the 20SMA and 50SMA, indicating short-term bearish pressure. The RSI hit overbought territory in the early hours, but failed to sustain above 60, hinting at potential pullback. MACD showed a narrow histogram and flattening momentum after an initial rally post-midnight.

Volatility and Volume

Volatility expanded between 23:00 and 02:00 ET, with a high of 0.0404, but volume remained uneven. The largest volume spike occurred at 0.0402–0.0403, but failed to push through the 0.0404 ceiling. Price and turnover diverged during the late morning decline, suggesting possible bearish continuation.

Bollinger Bands and Fibonacci

Price tested the upper Bollinger Band at 0.0404 during the early hours, followed by a pullback toward the mid-band. Fibonacci retracement levels at 61.8% (0.0401) and 38.2% (0.0395) marked key turning points, with price stalling at 0.0401 before retreating to 0.0399.

The price may test 0.0395 as the next support level and attempt to reclaim 0.0404 with a follow-through rally. However, uneven volume and a lack of clear follow-through could lead to extended consolidation. Investors should monitor the 0.0401 level for directional bias confirmation.