Market Overview for Hooked Protocol/Tether

Summary
• Price action formed a bullish engulfing pattern near 0.0382–0.0385 range.
• Volatility spiked during the 03:45–04:45 ET window with a 0.0387–0.0389 range.
• RSI indicated overbought conditions toward the day’s peak at 0.0392.
• Turnover surged during the late-night rally, confirming upward momentum.
• 50-period moving average on 5-min chart crossed below price, suggesting bullish bias.

Market Overview

Hooked Protocol/Tether (HOOKUSDT) opened at 0.0382 on 2025-12-29 at 12:00 ET–1 and reached a high of 0.0392 before closing at 0.038 at 12:00 ET. Total 24-hour volume was 1,711,019.0 and turnover amounted to 66,562.69 USDT.

Structure & Formations

Price formed a bullish engulfing pattern around 0.0382–0.0385 after a consolidation phase. A key support level appears at 0.038, tested twice during the late morning hours, while resistance is likely near 0.0387–0.0389 based on repeated rejections. A long upper shadow candle at 03:45 ET suggested hesitation at the 0.039 level.

Moving Averages

The 50-period 5-minute moving average crossed above price during the early morning hours, reinforcing bullish momentum. The 200-period daily MA remains below current price levels, indicating a potential shift in trend for the short term.

MACD & RSI

MACD remained in positive territory with a growing histogram from 02:00–05:30 ET, supporting bullish momentum. RSI reached overbought levels (above 70) at the high of 0.0392, hinting at potential near-term profit-taking or a consolidation phase.

Bollinger Bands

Volatility expanded during the early morning hours, with prices reaching the upper band at 0.0392. A subsequent contraction in the bands from 09:45 ET onward suggests a potential shift in trend or consolidation ahead.

Volume & Turnover

The largest volume spike occurred at 03:45 ET, coinciding with a 0.0387–0.0389 price range. Turnover increased in tandem, confirming the strength of the bullish move. A divergence in volume and price appeared in the 09:45–10:15 ET timeframe as price fell to 0.038 but volume remained elevated.

Fibonacci Retracements

On a 5-minute chart, the 0.0387–0.0392 swing saw a pullback to the 61.8% level at around 0.0389, suggesting support on the way down. On the daily chart, a 38.2% retracement of a prior week’s swing may now act as a potential near-term resistance.

Looking ahead, HOOKUSDT may test the 0.0392 resistance level with a breakout potentially signaling a larger bullish move. However, a retest of the 0.038 support could trigger a short-term pullback if volume fails to confirm. Investors should remain cautious of overbought conditions and watch for potential bearish divergence in the next 24 hours.