Market Overview: Hooked Protocol (HOOKUSDT) 24-Hour Analysis

• Hooked Protocol (HOOKUSDT) experienced a 24-hour decline of ~1.2% with a bearish reversal pattern near 0.1169.
• Price consolidated within a 0.1133–0.1194 range, with bearish momentum intensifying after 18:30 ET.
• Volatility expanded during key sell-offs, with turnover spiking on declines below 0.1162.
• RSI and MACD confirmed bearish bias, while volume diverged slightly on weaker closes.
• A test of 0.1133 support is imminent, with a potential bounce or breakdown expected in the next 24 hours.

Market Overview

Hooked Protocol (HOOKUSDT) opened at 0.1193 on July 28 at 12:00 ET and closed at 0.1153 on July 29 at the same time, with a high of 0.1194 and a low of 0.1101. Total volume reached 19,659,400.0 units, and notional turnover was approximately $2,280,630 (calculated using average price of ~$0.116). The 24-hour price action reflects a bearish bias with key resistance near 0.1169 and support at 0.1133.

Structure & Formations

The 15-minute OHLCV data reveals a bearish reversal pattern forming near 0.1169, with a key bearish engulfing pattern occurring on the 18:30–18:45 ET candle as price fell from 0.1173 to 0.1151. A doji formed near 0.1135 at 20:00 ET, indicating indecision and potential consolidation. The price has been oscillating between 0.1133 and 0.1194, with 0.1162 acting as a key short-term support-turned-resistance level.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages are both in bearish alignment, with the 50SMA acting as a ceiling during the morning hours. On the daily chart, the 50DMA is approaching 0.1150, while the 100DMA and 200DMA are slightly lower, suggesting that the price is now consolidating near its 50-day average. A break below the 200DMA would confirm a deeper bearish trend.

MACD & RSI

The MACD remains in negative territory with a bearish divergence forming as price lows are lower but the MACD histogram does not confirm the strength of the declines. RSI has been in oversold territory (below 30) for several hours, suggesting potential for a near-term bounce. However, the RSI failed to close above 40 on recent rallies, indicating weak buying pressure and a continuation of bearish momentum.

Bollinger Bands

Price action has been compressed within the Bollinger Bands for most of the 24-hour period, with the bands widening during the key sell-off from 0.1173 to 0.1151. The 20-period Bollinger Band width reached a 72-hour peak at 0.0035, indicating increased volatility. Price has remained below the 20-period MA, suggesting continued bearish bias.

Volume & Turnover

Volume spiked during the bearish breakdown from 0.1173 to 0.1151, with a 15-minute candle at 18:30–18:45 ET recording 2,052,655 units traded. Turnover increased in line with price declines, particularly during the 20:00–20:15 ET candle, when volume and turnover spiked as price dropped from 0.1135 to 0.1128. A divergence appears on weaker closes, where volume has not confirmed the downward momentum.

Fibonacci Retracements

Applying Fibonacci to the 0.1194–0.1101 swing, the 0.618 retracement level is at 0.1133, which has become a key support zone. The 0.382 level at 0.1148 has been tested multiple times but failed to hold. A breakdown below 0.1133 would target the next level at 0.1124, with the 0.1111 level as a deeper target.

Hooked Protocol (HOOKUSDT) appears to be consolidating near key Fibonacci support at 0.1133, with bearish momentum likely to continue if this level fails. A rebound could test 0.1148–0.1153, but a breakdown below 0.1133 may accelerate the decline toward 0.1111. Investors should monitor volume and RSI for confirmation of a reversal or continuation pattern in the next 24 hours, with volatility likely to remain elevated.