Market Overview for Hooked Protocol/Tether (HOOKUSDT) – 2025-10-10

• Price closed higher at 0.1004 after forming bullish patterns and breaking above key resistance.
• Momentum indicators suggest moderate overbought conditions with RSI near 65, but MACD remains bullish.
• Volatility surged mid-day as Bollinger Bands expanded, aligning with increased volume and turnover.
• Volume surged by 325% during the sharp pullback near 0.0933, hinting at possible short-covering or panic selling.
• Fibonacci retracement levels suggest potential near-term resistance at 0.1013 and support at 0.0988.

At 12:00 ET–1, Hooked Protocol/Tether (HOOKUSDT) opened at 0.0953 and closed at 0.1004 by 12:00 ET, hitting a high of 0.1014 and a low of 0.0933. Total volume was 17,362,380.5 with a notional turnover of $1,749,000 (volume × price range). The price action was marked by a sharp late-day pullback before a strong rebound in the final hours.

Structure & Formations

The 24-hour chart shows a strong bullish reversal after a bearish break toward 0.0933. A key support level formed between 0.0944 and 0.0959 during the 15:45–16:00 ET window, which was retested and held. A bullish engulfing pattern emerged during the 13:45–14:00 ET session, with a long lower shadow suggesting strong buying pressure. A key resistance level was observed around 0.1002–0.1009, which was successfully tested and retested multiple times.

Support and Resistance Levels (15-min chart)

- Support: 0.0944–0.0959, 0.0982–0.0986- Resistance: 0.1002–0.1009, 0.1012–0.1014

A notable doji formed at 14:45 ET around 0.0998, signaling indecision before the final rebound. This candle could mark a short-term consolidation point.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages crossed positively in the final hours, confirming a bullish bias. The 50-period line remained below the 20-period line, suggesting continued upward momentum. On the daily chart, the price closed above the 50-period and 100-period moving averages, indicating a longer-term bullish setup. The 200-period MA provided a baseline for potential support near 0.095, which was tested during the pullback.

MACD & RSI

The MACD remained positive throughout the final 6 hours of the session, with a growing histogram that suggests strengthening bullish momentum. RSI rose to 65 at the end of the day, indicating moderate overbought conditions, but not extreme. A pullback could be expected if RSI reaches 70 in the next 24 hours. The MACD crossover during the 13:45–14:00 window reinforced the bullish narrative, aligning with the engulfing candle.

Bollinger Bands

Volatility spiked during the 15:30–16:00 ET window as the price dropped from 0.0962 to 0.0948 within the lower band. The bands then expanded significantly, reflecting increased uncertainty. The price closed near the upper band at 12:00 ET, indicating strength and possible continuation. The narrow band contraction earlier in the day preceded the breakout, suggesting a high-probability range extension.

Volume & Turnover

Volume surged during the pullback (15:30–16:00 ET) to 2,904,300.1, with a turnover of ~$277,000. This volume spike suggested panic selling or short-term liquidation. In contrast, the final 3 hours showed a more balanced volume profile as the price rebounded. The last 15-minute candle closed at 0.1004 with 504,424.6 volume, indicating strong accumulation or order flow.

Price and volume were aligned during the final rebound, with no significant divergence observed. This alignment supports a bullish continuation scenario.

Fibonacci Retracements

Key Fibonacci levels were derived from the swing low at 0.0933 and the swing high at 0.1014. The 38.2% retracement level at 0.0974 and 61.8% at 0.1002 were both tested, with the price holding above 0.1002 in the final hours. The 50% retracement level sits at 0.0973, which was briefly tested but not broken in the final 15 minutes. This suggests buyers are active above this level.

On the daily chart, the 61.8% retracement level from the recent bearish move is at 0.0988, which will be a key near-term support level to watch.

Backtest Hypothesis

For a potential backtesting strategy, consider using a short-term breakout system based on the 15-minute Bollinger Band and moving average crossover. A buy signal could be triggered when the price closes above the upper Bollinger Band and the 20-period MA crosses above the 50-period MA. A stop-loss could be placed just below the nearest support level (0.0944–0.0959), and a take-profit could be set near the 61.8% Fibonacci level at 0.1002. This strategy would align with the observed volatility expansion and bullish momentum seen in the last 6 hours of the session.