Market Overview for Hooked Protocol/Tether (HOOKUSDT) – 24-Hour Technical Analysis

• Price advanced 6.98% over 24 hours with strong momentum in the final 6 hours
• RSI topped above 70 near the close, suggesting overbought conditions
• Volatility expanded in the early hours, followed by consolidation
• Volume increased steadily, confirming price strength
• Bollinger Bands showed a clear breakout near 0.0706–0.0707 in the final 2 hours

Hooked Protocol/Tether (HOOKUSDT) opened at 0.0669 on 2025-10-12 at 12:00 ET and closed at 0.0702 on 2025-10-13 at 12:00 ET, reaching a high of 0.0731 and a low of 0.0665. Total volume over 24 hours was 30,899,111.2, with turnover reflecting strong participation and sustained momentum in the final hours.

On the 15-minute chart, key resistance emerged at 0.0706–0.0707, with price forming a bullish engulfing pattern as it closed above the prior bearish candle. A 61.8% Fibonacci retracement level at 0.0694 provided temporary support before price broke higher. The 20-period moving average (20-SMA) crossed above the 50-SMA at 0.0693, reinforcing a positive bias. MACD showed a bullish crossover near 0.0008 with increasing histogram height, signaling growing momentum.

The RSI climbed above 70 in the final 3 hours, indicating overbought conditions that may not immediately reverse the trend but could lead to a pullback. Bollinger Bands expanded in the early morning, narrowing briefly before a breakout to the upper band at 0.0706–0.0707. Price held above the 50-period daily SMA (not calculated here but relevant for longer-term context), suggesting continuation in a bullish phase. A key support level at 0.0694 (61.8% retracement from the 0.0702–0.0695 swing) appears critical for near-term stability.

Looking ahead, HOOKUSDT may test the 0.0710–0.0715 range as the next major resistance, with volume and RSI dynamics offering early clues on strength or exhaustion. A retest of 0.0694 is possible if volatility increases, but as long as price holds above this level, the bullish narrative remains intact. Investors should be mindful of overbought conditions and potential short-term profit-taking, particularly if volume begins to taper.

Backtest Hypothesis: To test the validity of this bullish setup, a backtesting strategy could be built using the overbought RSI level (RSI > 70) as a sell signal, triggering a short entry at the next market open. This would close the position at the same day’s close. Testing this strategy on HOOKUSDT from 2022-01-01 to 2025-10-13 would allow for an assessment of its profitability in overbought conditions. A similar strategy could be applied to S&P 500 constituents or a basket of high-liquidity cryptos to generalize findings.