Market Overview: Hooked Protocol/Tether (HOOKUSDT) – 24-Hour Analysis as of 2025-10-04 12:00 ET

• Price declined 4.76% over 24 hours, closing at $0.1106
• RSI(14) reached oversold levels near 30, suggesting potential short-term bounce
• Volatility increased with a 1.7% range between daily high and low
• Price tested key support at 0.1105, failing to break below
• Volume spiked during the sell-off, confirming bearish momentum

The Hooked Protocol/Tether (HOOKUSDT) pair opened at $0.1126 on October 3 at 12:00 ET and closed at $0.1106 on October 4 at the same time, reaching a high of $0.1181 and a low of $0.1088. Total trading volume over the 24-hour period reached 65,242,428.5 USD, with notional turnover reflecting heightened activity, particularly during the downward leg between 19:00 and 21:00 ET. The price trend indicates bearish bias, with a key breakdown near 0.1105.

Structure & Formations

Price formed a bearish engulfing pattern at the high of $0.1181, followed by a rejection and sharp sell-off into $0.1088. A key support area appears to be forming near 0.1105, with price bouncing off this level three times in the past 24 hours. A long-legged doji at 0.1106 suggests indecision. Resistance levels include 0.1114 and 0.1123, both of which were tested and rejected.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs are bearish, with both below current price. The daily chart confirms the bearish trend as the 50-period SMA crosses below the 200-period SMA, forming a death cross. Price remains below all major moving averages, indicating continued bearish momentum.

MACD & RSI

The MACD line turned negative and crossed below the signal line, reinforcing the bearish bias. RSI(14) dropped to 30, indicating oversold conditions, but failed to generate a strong rebound. This suggests that while oversold, buyers are reluctant to step in, and a breakdown below 0.1105 could trigger further downward momentum.

Bollinger Bands

Volatility increased as price moved from the upper band at $0.1181 to the lower band at $0.1088. Price now sits near the lower band, suggesting overextension. A contraction in the bands may follow, signaling a potential short-term reversal. However, given the strong volume during the sell-off, a break below the lower band could confirm the continuation of the downtrend.

Volume & Turnover

Volume surged during the sell-off from $0.1181 to $0.1088, confirming bearish momentum. The total volume during this move was over 14 million USD in a short span. However, volume during the bounce from $0.1088 to $0.1106 was muted, suggesting weak buying interest. A divergence between price and volume could indicate an impending breakdown if confirmed by further weakness.

Fibonacci Retracements

Applying Fibonacci retracements to the recent swing from $0.1088 to $0.1112 shows that price may face support at 0.1105 (61.8%) and resistance at 0.1109 (38.2%). Price is currently consolidating near the 61.8% level, which could either act as a pivot for a short-term bounce or a breakdown point into the next level of support.

Backtest Hypothesis

Given the current bearish setup and the oversold RSI, a potential backtesting strategy could involve a short entry below the 0.1105 level with a stop above 0.1114 and a target near 0.1093. This aligns with the Fibonacci 61.8% and 78.6% levels. A 15-minute MACD crossover below the signal line could confirm the trade. A long position could be considered above 0.1114 if RSI rebounds above 40, but volume must confirm the strength of the reversal.