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Summary
• Price drifted lower amid low volatility, failing to break above 0.0385.
• A bearish engulfing pattern formed near 0.0385, suggesting near-term weakness.
• Volume surged during the 10:45–11:15 ET window, aligning with a sharp price drop.
• RSI dipped below 30, indicating potential oversold conditions toward 0.0377–0.0378.
• Bollinger Bands show contraction earlier in the session, followed by a mild breakout downward.
Hooked Protocol/Tether (HOOKUSDT) opened at 0.0383 on 2025-12-26 12:00 ET, reached a high of 0.0385, and closed at 0.038 at 2025-12-27 12:00 ET, with a low of 0.0376. Total 24-hour volume amounted to 2,394,329.3, and notional turnover was $91,200.
Price action for
revealed a bearish shift in sentiment as the asset failed to hold above 0.0385, with a clear bearish engulfing pattern emerging between 00:00 and 02:00 ET. A key support level appears to have formed around 0.0380–0.0378, where the price consolidated for much of the session. A doji at 01:45 ET hinted at indecision, but a sharp bearish reversal occurred shortly afterward.
Over the 5-minute chart, the 20-period and 50-period moving averages converged around 0.0383–0.0384, indicating a potential turning point. MACD showed bearish momentum during the 8:00–11:00 ET window, with the line dipping below the signal line and forming a bearish divergence. RSI fell below 30 near 0.0377, suggesting the price may be oversold and could face short-term buying pressure.
Bollinger Bands showed a mild contraction in the early hours, followed by a sharp expansion as price broke lower around 10:45 ET. Notably, volume spiked during this 10:45–11:00 ET window, with a large candle recording 467,164.8 volume at a price of 0.0377. This suggests strong conviction in the downward move. However, volume has since eased, which could indicate waning bearish pressure.
Applying Fibonacci retracement to the recent high (0.0385) and low (0.0376), the 61.8% level sits near 0.0381—where the price has tested multiple times. A break below 0.0378 could target the next 38.2% level at 0.0377. If buyers step in near 0.0377–0.0378, a rebound toward 0.0381 may follow.
For the next 24 hours, a test of the 0.0376–0.0378 support zone could trigger a short-covering bounce. However, sustained selling pressure and rising volume below 0.0378 could extend the decline. Investors should remain cautious ahead of any potential short-term reversal.
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