Hooked Protocol Market Overview: 24-Hour Price Action and Momentum Shifts

• Price dropped to $0.102 before recovering to close near $0.106, forming a bullish hammer.
• Strong volume and turnover spiked during the morning ET recovery phase.
• RSI suggests oversold conditions during the low, with subsequent positive divergence.
• Bollinger Band contraction earlier in the day followed by expansion as volatility increased.
• Fibonacci levels at $0.1029 and $0.1044 acted as key support and bounce points.

Hooked Protocol (HOOKUSDT) opened at $0.1067 on 2025-08-19 12:00 ET, reached a low of $0.1020, and closed at $0.1060 by 12:00 ET-1. Total volume was 7,885,047.0, with a notional turnover of $801,564.95, showing increasing buyer interest in the latter half of the session.

Structure & Formations

Price action formed a bullish hammer near the session low, with a strong rebound that reversed early bearish momentum. The 0.1020 level acted as a short-term support, and a small bearish engulfing pattern followed by a bullish harami suggested indecision, ultimately resolved in favor of buyers. Resistance at $0.1067 appeared to be holding as a short-term ceiling, while $0.1033 provided meaningful support.

Moving Averages

On the 15-minute chart, the 20-period MA turned upward after midday ET, aligning with a price recovery. The 50-period MA remained below, indicating potential for a short-term bullish crossover. On the daily chart, the 50 and 200-period MAs remain widely separated, with the price still well below both, signaling a longer-term bearish bias that could limit upside without a break above key higher timeframes.

MACD & RSI

The MACD line crossed above the signal line just after 4:00 AM ET and held positive through the morning, confirming renewed bullish momentum. RSI hit oversold territory below 30 at $0.1020 but rebounded into neutral to mildly overbought territory. This positive divergence suggests a potential for continued short-term gains.

Bollinger Bands

Bollinger Bands narrowed during the early hours of the session, signaling a period of consolidation. Price broke out of the contraction as volatility picked up, with the close of the session occurring near the upper band on the 15-minute chart, suggesting strong bullish control in the final hours.

Volume & Turnover

Volume spiked significantly in the early morning and late afternoon, coinciding with price recoveries. Notional turnover mirrored the volume pattern, especially during the 4:00 AM to 6:00 AM ET and 4:00 PM to 5:00 PM ET periods, providing strong confirmation of price direction and reducing the likelihood of a false break.

Fibonacci Retracements

Key Fibonacci levels were observed at $0.1029 (38.2%) and $0.1044 (61.8%) during the 15-minute rally. Price found support at $0.1029 and bounced at $0.1044 before continuing its upward move. On a daily timeframe, the 61.8% retracement level sits at $0.1064, suggesting a potential next target if bullish momentum persists.

Hooked Protocol may continue to see short-term bullish momentum as buyers push above $0.1064. However, a breakdown below $0.1044 could reignite bearish pressure and signal a potential reversal. Investors should remain cautious about extended moves into overbought territory and watch for confirmation through volume and RSI.