Market Overview for Hooked Protocol/Tether (HOOKUSDT) – 2025-09-21

• Hooked Protocol/Tether (HOOKUSDT) rose 8.8% over the last 24 hours, forming a bullish breakout above prior resistance.
• Volume surged 165% in the final 6 hours, confirming upward momentum and strong buyer participation.
• RSI reached overbought territory by 18:00 ET, suggesting potential near-term consolidation or pullback.
• Price tested and closed above the 0.1200–0.1220 key resistance cluster, indicating a shift in short-term sentiment.
• Bollinger Bands widened significantly in the past 4 hours, reflecting heightened volatility and trend continuation risk.

Hooked Protocol/Tether (HOOKUSDT) opened at $0.1141 (12:00 ET - 1) and closed at $0.1256 (12:00 ET) after a strong 24-hour rally. The pair surged to a high of $0.1345 and fell to a low of $0.1131, representing a volatile session with a total volume of 51,812,758.4 and a notional turnover of $6,557,130.2. The price action shows growing conviction in the bullish direction, supported by expanding volume and strong higher closes in the final hours.

Structurally, HOOKUSDT broke above the 0.1200–0.1220 consolidation zone, a critical area that had acted as resistance for several hours. A strong bullish engulfing pattern formed between 07:15 and 07:30 ET as the price surged from $0.1254 to $0.1281. This pattern was followed by a continuation rally. Key support levels now include $0.1220 (previous resistance) and $0.1190, while resistance is at $0.1280 and $0.1345. The 20-period EMA rose above the 50-period EMA in the last 3 hours, confirming a shift to bullish momentum.

The 15-minute RSI reached 74 by 18:00 ET, indicating overbought conditions, though not extreme, suggesting continued upward thrust may persist in the short term. Bollinger Bands expanded significantly in the final 4 hours of the session, signaling increased volatility. Price has been trading near the upper band for most of the past 6 hours, indicating continuation of the trend. MACD turned positive and crossed above the zero line around 06:30 ET, reinforcing the bullish momentum.

Fibonacci retracement levels on the key swing high from $0.1345 to $0.1201 identified a 61.8% level at $0.1268, which was tested and exceeded by 09:30 ET. This suggests the trend could continue toward the next target at $0.1320. Divergences between price and volume were not observed, as the volume profile aligned with the rising price action. The 50-period MA on the daily chart is currently at $0.1227, below the current price, signaling a potential continuation of the bullish bias.

Backtest Hypothesis

A potential strategy could involve entering long positions on the 15-minute chart when the price closes above the 50-period EMA and RSI is above 50, with a stop-loss placed below the previous swing low. Based on the 24-hour pattern and the confirmation from volume and momentum indicators, this approach might capture a portion of the upward trend while managing risk. A take-profit target could be set at the next Fibonacci level or above a key psychological level like $0.1300. This strategy would benefit from the current bullish divergence and strong volume profile observed in the last 6 hours.