HOOK Token Surges 6.21% After Breaking Out of Descending Triangle

Written byCoin World
Thursday, Jul 3, 2025 10:01 pm ET1min read

HOOK, the token associated with Hooked Protocol, has shown signs of recovery after breaking out of a descending triangle pattern. The token recently traded at $0.0975, marking a 6.21% increase and indicating a shift in short-term market behavior. This breakout comes after weeks of compressed price action, with

attempting to reclaim levels last seen in June.

The support region at $0.08367 has been consistently defended by buyers, reinforcing its significance during the current consolidation phase. The recent trading range has been narrow, with the price briefly dipping below the $0.08805 mean, indicating a 0.6% negativity in daily losses that is currently being reversed. The HOOK/BTC pair also showed strength, gaining 4.1% to 0.068233 BTC, despite mixed dollar-denominated movement.

Despite the recent upside move, key resistance levels remain intact for HOOK. The primary resistance is at $0.1018, with additional layers at $0.1227, $0.1371, and $0.1562. These levels correspond to previous consolidation zones from late April to early May. For a sustained recovery, the price must surpass these resistance levels, and significant volume will be needed to drive continuation beyond these points.

The price of HOOK is still well below the 200-day moving average, which is currently trending downward. Historical price rejection along this curve has continued to cap gains. However, the green triangle breakout suggests that HOOK is testing prior sell zones. The reaction near the $0.1018 resistance level will be crucial in determining the momentum for the coming sessions.

Volume expansion accompanied the recent breakout from the triangle, increasing the likelihood of further directional activity. The consolidation preceding this move was characterized by flat volume, typical in squeeze zones. As the price lifts, traders are closely monitoring the distance between the price and the support area near $0.0803, which serves as a local low.

The projected range for July and August, as indicated by the highlighted blue box on the chart, suggests a wide range of potential price movements. If the price holds current support levels, it could attempt to challenge higher bands around $0.2000 and $0.2114. For now, all attention remains on the strength of this early breakout and its ability to sustain above the initial resistance zone at $0.1018.

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