Market Overview for Hooked Protocol/Tether (HOOKUSDT)

• Price action sees HOOKUSDT drop to 0.1055 from 0.1157, signaling bearish momentum.
• RSI and MACD indicate overbought conditions earlier, followed by divergence into oversold territory.
• Volatility spikes with large candle bodies early, then contracts sharply during late ET hours.
• Strong bearish volume divergence observed as price declines but volume wanes.
• Key support at 0.1072–0.1075 holds temporarily; resistance retested at 0.1145–0.1153.

The 24-hour session for HOOKUSDT opened at 0.1137 on 2025-09-14 at 12:00 ET and closed at 0.1063 at 12:00 ET the following day. The price reached a high of 0.1157 and a low of 0.1055. Total volume was approximately 38.9 million, while notional turnover amounted to ~$4.25 million. The price trend has clearly shifted to the downside, with bearish continuation patterns apparent in late-day sessions.

Structure & Formations

The price action formed several bearish reversal patterns, including a large upper shadow in the first candle of the new day, signaling rejection of higher levels. A 38.2% Fibonacci retracement level at 0.1105–0.1111 briefly held but failed to reverse the trend. The 61.8% level of 0.1072–0.1075 has been a critical support zone, with multiple tests and partial rejections. A bearish engulfing pattern developed after 03:00 ET, confirming the breakdown of the previous consolidation range.

Moving Averages

On the 15-minute chart, the 20-period MA initially sloped upward into the mid-0.1140s but quickly reversed to a steep downward slope, reflecting deteriorating momentum. The 50-period MA confirmed the bearish shift, crossing under key price levels. On the daily chart, the 50 and 200-period MAs are in a bearish crossover, with the price below both, reinforcing a continuation of the downtrend.

MACD & RSI

The MACD line turned sharply negative after 04:00 ET, with the histogram contracting as the trend slowed and entered a consolidation phase. The RSI dropped below 30 after 08:00 ET, indicating oversold conditions, though no strong reversal signals followed—suggesting the bearish move is still in control. A divergence between rising RSI and falling price emerged in the final hour, signaling potential exhaustion.

Bollinger Bands

Volatility spiked early in the session, with price reaching the upper band at 0.1157. By late ET, volatility collapsed, and the price settled near the lower band by the 12:00 ET close, at 0.1063. This contraction could suggest a potential reversal, but without a strong bounce, the bearish bias remains intact.

Volume & Turnover

Volume peaked at ~1.03 million at 07:45 ET, during a sharp breakdown to 0.1111, but then sharply declined through the 10:00 ET hour. Notional turnover mirrored this, reaching $500k at the peak before collapsing. The divergence between falling price and declining volume supports a bearish continuation, though the lack of conviction in volume may hint at an eventual rebound.

Fibonacci Retracements

The most recent 15-minute swing from 0.1157 to 0.1055 saw key Fibonacci levels at 38.2% (0.1105), 50% (0.1106), and 61.8% (0.1072) all tested. The 61.8% level appears to be the critical support for the next 24 hours. Daily Fibonacci levels from a broader downtrend show 0.1124 as a potential area for a counter-trend bounce.

Backtest Hypothesis

Given the recent bearish consolidation and the presence of a key Fibonacci and moving average support at 0.1072–0.1075, a potential backtesting strategy could involve a short bias with a stop placed just above 0.1090 to capture a continuation of the downtrend. A MACD crossover and RSI below 30 could serve as entry triggers, with a target near the 0.1065–0.1055 level based on prior bearish momentum. If the price fails to hold the 0.1072 level and breaks down further, the strategy could be adjusted to a tighter stop for a high-probability short entry.