Market Overview for Hooked Protocol/Tether (HOOKUSDT) – October 5, 2025

• Price rose to a 24-hour high of $0.1137 before consolidating around $0.1105 in late ET hours.
• Bullish momentum peaked in the early morning hours, followed by a pullback into oversold territory.
• Volatility expanded with a high volume spike in the early morning, but turnover and price diverged later.
• Key support identified near $0.1095–0.1093 and resistance at $0.1107–0.1111 on the 15-minute chart.
• RSI and MACD signaled overbought conditions earlier, then a potential bearish reversal in the final 6 hours.

Hooked Protocol/Tether (HOOKUSDT) opened at $0.1076 on October 4 at 12:00 ET, reached a high of $0.1137, and closed at $0.1105 on October 5 at 12:00 ET. Total volume amounted to 36,052,035.7 with a turnover of approximately $3,994,455. Price action showed a clear bullish bias in the early morning, followed by a pullback into consolidation and bearish momentum in the afternoon.

Structure & Formations

Price formed several bullish and bearish candlestick patterns over the 24-hour period. A strong engulfing bullish candle was seen around 02:45 ET, as price surged from $0.1097 to $0.1115, signaling a short-term reversal from bearish to bullish. This was followed by a series of higher highs and higher lows, forming a shallow bullish trend. Later, a shooting star at $0.1137 (08:00 ET) and a bearish harami at $0.1126–0.1121 (09:00–09:15 ET) indicated weakening momentum. A bearish engulfing pattern occurred around 15:45–16:00 ET, confirming a potential reversal in short-term bullish bias.

Key support levels include $0.1093–0.1095 and $0.1102–0.1104, while resistance is seen at $0.1107–0.1111 and $0.1120–0.1125. A Fibonacci retracement level at 61.8% of the early morning rally (from $0.1095 to $0.1137) lies at $0.1120–0.1122, a critical level for near-term direction.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages were closely aligned in the morning, but diverged in the afternoon as bearish pressure increased. The 50-period MA crossed below the 20-period MA around 14:15–14:30 ET, forming a death cross on the shorter timeframe, which could indicate a near-term bearish phase.

On the daily chart, the 50-period MA was above the 200-period MA, but the 100-period MA started to converge with the 200-period MA, suggesting a potential bullish-to-bearish crossover may occur if the trend continues downward.

MACD & RSI

The MACD line peaked in the early morning at around 0.0008–0.0009, indicating strong bullish momentum. However, it began to trend lower by 09:00 ET and crossed below the signal line by 12:00 ET, suggesting a bearish divergence in momentum. The RSI reached overbought territory (~68–71) in the early hours, but dropped into neutral to oversold levels (~35–38) by 17:00–18:00 ET, confirming a short-term bearish shift.

A RSI divergence occurred around 14:00–15:00 ET, where price hit a new low of $0.1095 but the RSI did not confirm it, suggesting a potential bounce in the near term.

Bollinger Bands

Volatility expanded significantly from 02:00–04:00 ET, with the upper band reaching $0.1137 and the lower band dropping to $0.1105. Price spent much of the morning outside the upper band, indicating strong bullish conviction. However, after the high of $0.1137, price began to retrace into the middle band, with the lower band becoming a support zone.

By late ET, price consolidated around the middle Bollinger Band, suggesting a temporary equilibrium between bulls and bears. A volatility contraction is visible after 16:00 ET, which may precede a breakout or breakdown from the consolidation range.

Volume & Turnover

The highest volume spike was observed at 02:45–03:00 ET, with over 945,606.7 USDT turnover, coinciding with the bullish engulfing candle. However, price failed to hold above $0.1115 in the following hours, indicating bullish conviction may have been exaggerated.

Turnover diverged from price after 11:00–12:00 ET, with declining volume despite a relatively strong close. This divergence suggests weakening momentum, especially as price approached the $0.1105–0.1107 zone. Volume remained subdued in the final hours, with little indication of either bearish or bullish control.

Fibonacci Retracements

Applying Fibonacci levels to the morning rally from $0.1095 to $0.1137, key levels include:- 38.2% retracement at $0.1117–0.1118- 50% retracement at $0.1116- 61.8% retracement at $0.1112–0.1113

Price stalled near the 61.8% retracement level before pulling back, suggesting this may act as short-term resistance in the next 24 hours. If price breaks below $0.1105–0.1107 (the 38.2% retracement from the afternoon dip), a test of the $0.1095–0.1093 support zone could follow.

Backtest Hypothesis

Based on the observed price behavior, a potential backtest strategy would involve entering a short position on a bearish engulfing pattern near key Fibonacci resistance levels (e.g., $0.1112–0.1115), with a stop-loss placed just above the 61.8% retracement level and a target near the 50% retracement level. This aligns with the MACD divergence and bearish momentum seen in the early afternoon, particularly between 14:00–15:00 ET.

Using 15-minute candles, this strategy would capitalize on the bearish reversal after the morning rally and the pullback from the $0.1137 high. A long entry could be considered if price breaks above $0.1113 with increasing volume, targeting the 61.8% retracement area and beyond, with the MACD line above the signal line and RSI entering overbought territory as confirmatory signals.