Market Overview for Hooked Protocol/Tether (HOOKUSDT) - 2025-09-13

• Price surged 22% from 0.1127 to 0.1228 on strong volume and momentum
• RSI peaked above 70 in early hours, indicating overbought conditions
• Bollinger Bands expanded sharply after 03:00 ET, signaling high volatility
• Volume spiked to 10M+ contracts at peak, aligning with price breakouts
• A bullish engulfing pattern formed at 08:45 ET, followed by strong follow-through

At 12:00 ET on 2025-09-13, HOOKUSDT opened at 0.1127, hit a high of 0.1234, a low of 0.1126, and closed at 0.1214. Total volume over the 24 hours was 10,099,933.9, with turnover of $1,226,045.94. A powerful rally unfolded after a bearish consolidation period, with strong confirmation from volume and momentum.

Structure & Formations

Price broke above a key resistance level of 0.1150, confirmed by a bullish engulfing candle at 08:45 ET and a doji at 03:00 ET, suggesting indecision before the breakout. Key support levels identified include 0.1150, 0.1140, and 0.1127 (initial open). A large bullish flag pattern formed between 0.1150 and 0.1220 following the consolidation.

Moving Averages

On the 15-minute chart, the price traded above both the 20-period and 50-period SMAs during the rally, indicating a short-term bullish bias. The 50-period SMA has acted as dynamic support around 0.1150, with the 20-period SMA pulling upward with price action. Daily moving averages (50/100/200) are all below current price, indicating a strong short-term upside bias.

MACD & RSI

MACD turned sharply bullish after 04:00 ET, crossing above the signal line with increasing histogram bars, confirming momentum. RSI spiked to 77 at 09:00 ET, entering overbought territory, though divergence was limited. Price continued to push higher despite RSI overbought levels, suggesting strong conviction in the move.

Bollinger Bands

Bollinger Bands widened significantly following the breakout above 0.1150, showing a surge in volatility. Price traded well above the upper band between 09:00–11:45 ET, indicating a continuation of the bullish momentum. The lower band remained near 0.1126, reinforcing the support level.

Volume & Turnover

Volume surged sharply during the breakout period, with the most notable spike occurring at 08:45 ET (volume = 1,024,554.1), followed by a massive spike at 14:00 ET (volume = 2,188,720.8), which coincided with a price decline toward 0.1204. Turnover confirmed the volume increases, with the highest notional value seen at 14:00–15:00 ET, indicating high liquidity during the pullback phase.

Fibonacci Retracements

On the 15-minute chart, the 0.618 retracement level of the rally from 0.1126 to 0.1228 sits near 0.1193, which was tested and held at 06:00 ET. The 0.382 retracement level was near 0.1176, also showing consolidation. Daily Fibonacci levels suggest a key area for potential resistance at 0.1244, which is close to the high of 0.1234 reached on the 15-minute chart.

Backtest Hypothesis

Based on the observed pattern of a bullish engulfing candle, followed by a MACD crossover above the signal line, and volume confirmation, a potential backtest strategy could be: Entering a long position on a close above the high of the engulfing candle, with a stop-loss placed below the low of the engulfing candle and a take-profit target at the 1.618 Fibonacci extension of the preceding consolidation move. The strategy would aim to capture continuation moves driven by strong momentum and volume confirmation, with risk management focused on volatility-based stops.