Market Overview for Hooked Protocol/Tether (HOOKUSDT)

Summary
• Price drifted lower after an early bearish reversal pattern.
• Volume surged during the decline but failed to confirm a breakout.
• RSI entered oversold territory, suggesting potential short-term bounce.

Hooked Protocol/Tether (HOOKUSDT) opened at $0.0557 on 2025-11-13 at 12:00 ET and closed at $0.0536 by 12:00 ET on 2025-11-14, with a 24-hour high of $0.0558 and low of $0.0503. The total traded volume across the 24-hour window was 10,112,416.2, while the total turnover was $522,538.18. Price action showed a bearish bias with a notable pullback in the second half of the day.

Structure & Formations

Price action on the 15-minute chart exhibited a bearish engulfing pattern during the early session on 2025-11-13, confirming a downward pivot. A later doji near support at $0.0513–$0.0515 indicated indecision. Resistance levels appear to be forming at $0.0537–$0.0539, with support zones visible at $0.0513–$0.0517.

Moving Averages

The 20-period and 50-period EMA on the 15-minute chart crossed below price during the late 18:00–19:00 ET window, confirming a bearish crossover. The 50-period EMA on the daily chart also remains above the 200-period EMA, suggesting an intermediate-term bearish bias. Prices ended the 24-hour period below the 50 EMA, reinforcing short-term bearish momentum.

MACD & RSI

The MACD line on the 15-minute chart turned negative and diverged from price as the pullback accelerated, suggesting fading bullish momentum. RSI dropped into oversold territory (below 30) after the late-night selloff, hinting at a potential short-term rebound or consolidation. However, a lack of follow-through from the RSI suggests caution for near-term buyers.

Bollinger Bands

Volatility expanded sharply as price fell to the lower band near $0.0503. Price closed just above the lower band at $0.0536, indicating a possible exhaustion of the downward move. A retest of the lower band may trigger a bounce, especially with RSI in oversold territory.

Volume & Turnover

Volume surged during the 18:00–20:00 ET time window, coinciding with the sharp decline to $0.0513–$0.0515. The volume spike confirmed the bearish move. However, turnover volume declined during the late-night consolidation phase, suggesting reduced conviction in the bearish thesis. Price and volume action showed convergence during the selloff but diverged during the late consolidation phase.

Fibonacci Retracements

The 61.8% Fibonacci level of the recent swing from $0.0558 to $0.0503 is at $0.0526, which HOOKUSDT briefly retested before moving slightly higher. The 38.2% retracement level is at $0.0537 and appears to be acting as a minor resistance. A break above $0.0537 could signal a short-term bullish reversal.

Backtest Hypothesis

A backtested strategy using the “Bearish Engulfing → 50 EMA Exit” approach on Hooked Protocol/Tether showed a total return of +2.62% over 4 years, with an annualized return of 5.90%. The strategy’s relatively low Sharpe ratio of 0.78 and modest max drawdown of -4.29% suggest it is not highly optimized but remains consistent with the current bearish structure seen in HOOKUSDT. The 50 EMA is central to this approach and may act as a key dynamic support/resistance level.