Hooked Protocol/Tether Market Overview

• Price opened at $0.1076 and declined to a low of $0.1054 before recovering to $0.1089 near session peak.
• A key support level appears near $0.1043–$0.1054 with multiple tests and rejections.
• RSI suggests overbought conditions at 80+ and oversold at 20–30, indicating potential reversal signals.
• Volatility expanded sharply during the 03:30–06:00 ET range, with HOOKUSDT hitting a 15-minute high of $0.1094.
• Turnover spiked during the $0.1054–$0.1094 swing, confirming bullish momentum despite intraday consolidation.

Hooked Protocol/Tether (HOOKUSDT) opened at $0.1076 on 2025-09-22 at 12:00 ET and closed at $0.1071 on 2025-09-23 at 12:00 ET. The pair reached a high of $0.1094 and a low of $0.1043 during the 24-hour period. Total volume was 37,420,484.7, and total turnover was $3,936,742.25, reflecting increased trading activity during key price swings.

Structure & Formations

The candlestick chart reveals a complex price structure over the 24-hour period. A strong bearish trend emerged early on, with a 15-minute candle closing at $0.1055 on 19:15 ET after an intracandle low of $0.1041. This was followed by a consolidation phase before a sharp reversal started at 03:30 ET, with a bullish candle forming a significant 15-minute high of $0.105. A potential bullish engulfing pattern appeared at 06:30 ET, with a 15-minute high of $0.1084 and a low of $0.1062, indicating strong buying pressure.

A key support level appears to be forming around $0.1043–$0.1054, which has been tested multiple times and has shown resiliency. A bearish engulfing pattern formed near this level, suggesting traders may see short-term volatility. A doji candle appeared near $0.1062 on 08:00 ET, signaling indecision and potentially a pause in trend continuation.

Volatility and Momentum

The price action showed a marked increase in volatility starting at 03:30 ET, with the HOOKUSDT pair moving from $0.1026 to $0.105 on a single candle. This was followed by further consolidation and a new bullish push. A key turning point occurred at 06:30 ET with a strong bullish candle forming at $0.1084, suggesting a possible trend reversal.

Moving averages on the 15-minute chart show that the 20-period MA crossed the 50-period MA upward during the 06:30–07:00 ET window, reinforcing the bullish signal. The 50-period MA on the daily chart is also trending upwards, aligning with the overall market sentiment.

Momentum and RSI Signals

The RSI reached overbought levels above 80 during the 06:30–08:00 ET period, indicating strong momentum and a potential for a pullback. A pullback occurred starting at 09:00 ET, with the RSI dropping below 60 and stabilizing near 50, suggesting a temporary equilibrium.

MACD showed a bullish crossover at 06:30 ET, with the MACD line crossing above the signal line and the histogram showing increasing positive values. This aligns with the bullish engulfing pattern observed in the candlestick structure.

Bollinger Bands reflected increased volatility between 03:30 and 06:30 ET, with the price moving above the upper band during the 06:30–06:45 ET period. The price remained within the bands for most of the 24-hour period, suggesting contained movement and potential for continuation.

Fibonacci Retracements

Applying Fibonacci retracement levels to the 03:30–06:30 ET swing, key levels were identified at 61.8% near $0.1066 and 38.2% near $0.1077. The price tested the 61.8% level multiple times, with a potential bounce forming at $0.1066. The 78.6% level near $0.1059 also saw significant activity, with the price consolidating around this level.

Backtest Hypothesis

Given the strong bullish signals observed in the 06:30–07:00 ET window—including a bullish engulfing pattern, a moving average crossover, and a MACD bullish crossover—a backtesting strategy could focus on entering long positions on confirmation of these signals. A potential entry point would be at the close of the 06:30 ET candle, with a stop-loss placed just below the 06:00 ET low of $0.1051. A target could be set at the 78.6% Fibonacci level of $0.1059 or the 61.8% level at $0.1066. This strategy would align with the observed momentum and trend continuation signals, offering a probabilistic edge in a trending environment.