Market Overview for Hooked Protocol/Tether (HOOKUSDT) - 2025-09-20

• Price declined from 0.1110 to 0.1120 range, with a strong bearish bias observed in the early part of the 24-hour period.
• Momentum improved sharply after 05:00 ET, with bullish continuation patterns emerging from 0.1101 to 0.1157.
• Bollinger Band contraction in early morning hours was followed by a strong volatility expansion to the upside.
• Volume surged over 760k contracts at 14:30–15:30 ET, confirming a breakout above key resistance levels.
• Overbought RSI readings at the session high suggest caution, while MACD remained bullish during the rally.

The Hooked Protocol/Tether (HOOKUSDT) pair opened at 0.1102 on 2025-09-19 12:00 ET and closed at 0.1141 on 2025-09-20 12:00 ET, with a high of 0.1157 and a low of 0.1077. The total 24-hour volume reached 9,691,043.1 contracts, with a turnover of approximately $1,071,909. The session displayed a clear reversal from bearish to bullish sentiment, with key technical features supporting the recent rally.

Structure & Formations

The 15-minute chart revealed a strong bearish bias in the early part of the session, with a series of lower highs and lower lows from 0.1102 to 0.1077. A critical support level appeared at 0.1091–0.1092, where price found repeated buying support. Between 05:00 and 15:30 ET, a series of bullish continuation patterns emerged, including a morning star and an engulfing pattern at key resistance levels. A bearish divergence in the early morning was followed by a strong bullish divergence in the midday session.

A key resistance level at 0.1112–0.1114 was decisively broken around 05:30 ET and confirmed by volume surges. Price then moved to test the 0.1157 high, with a bearish reversal forming as the RSI approached overbought territory. A large bullish engulfing candle at 14:30 ET confirmed the breakout and signaled a potential continuation of the rally.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed to the upside around 05:30 ET, forming a golden cross and confirming the bullish shift in momentum. By the close, both moving averages were well below the current price, suggesting ongoing bullish momentum. On the daily chart, the 50 and 200-period MAs showed a bearish bias earlier in the week, but the recent rally has begun to close the gap, indicating a potential trend reversal.

MACD & RSI

MACD turned bullish around 05:00 ET and remained positive through the majority of the session, with a strong histogram expansion occurring from 05:30 to 08:00 ET. RSI moved into overbought territory near 75 as the price approached 0.1157, suggesting a possible near-term correction. However, a strong MACD divergence at the top suggested the bullish momentum remained intact. The RSI pullback from 75 to 65 was accompanied by a bullish MACD crossover, indicating a possible continuation of the upward move.

Bollinger Bands

Bollinger Bands contracted tightly around 04:30–05:00 ET, signaling a potential breakout. Price broke out to the upside and remained well above the upper band for the remainder of the session. This volatility expansion confirmed the strength of the bullish move and suggested the continuation of the trend. The price currently sits near the upper band, with the potential for a retracement toward the mid-band if a correction occurs.

Volume & Turnover

Volume spiked sharply from 05:00 ET onward, with the most significant spike occurring at 14:30 ET (670,489.7 contracts), confirming the bullish breakout from 0.1135 to 0.1143. Turnover also increased in line with the price action, with no divergence observed between price and volume. This suggests strong conviction behind the move higher. Notably, volume during the bearish phase in the early session was relatively light, reinforcing the idea that the bearish move lacked conviction.

Fibonacci Retracements

Applying Fibonacci retracements to the key bearish leg from 0.1110 to 0.1077, price found support at the 61.8% level (0.1091–0.1092), confirming a key reversal point. The subsequent bullish leg saw price retest the 38.2% level (0.1110) and continue higher. A key Fibonacci extension level of 161.8% was estimated at 0.1177, suggesting a potential target if the bullish trend continues. On the 15-minute chart, retracements of the 0.1101 to 0.1157 leg showed strong resistance at 0.1135, which was subsequently broken out of, reinforcing the strength of the current move.

Backtest Hypothesis

A potential backtesting strategy would involve entering long positions upon confirmation of a bullish engulfing candle with high volume and a MACD crossover above the signal line. This pattern was observed at 14:30 ET on the 15-minute chart, followed by a strong move toward 0.1157. Exit targets could be based on Fibonacci levels (e.g., 0.1177) or overbought RSI conditions. A stop loss could be placed below the 0.1112–0.1114 level, with a trailing stop activated as price moves higher. This approach would aim to capture strong bullish continuation moves while limiting downside risk in case of a reversal.