Market Overview for Hooked Protocol/Tether (HOOKUSDT)

• Price opened at 0.1142, surged to 0.1341, and closed near 0.1246 amid volatile swings.
• Strong momentum shifted late in the cycle with a bullish reversal post-downtrend.
• Volatility peaked during the 05:30–06:30 ET window, with volume surging to over 10.9M.
• RSI bottomed in oversold territory, then climbed into neutral range by 12:00 ET.
• Key support tested at 0.1190–0.1150, resistance at 0.1230–0.1250 remains critical.

Opening Snapshot and 24-Hour Performance

Hooked Protocol/Tether (HOOKUSDT) opened at 0.1142 on 2025-10-02 12:00 ET and closed at 0.1246 by 12:00 ET the following day. The pair reached a high of 0.1341 and a low of 0.1102 during the period. Total traded volume was approximately 89.5M units, with a notional turnover of about $10.7M, highlighting elevated interest during the 05:30–06:30 ET spike.

Structure & Formations

The candlestick chart reveals a strong bearish bias early in the session, with a sharp decline from 0.12 to 0.1102 over a 3.5-hour span. A key bullish reversal pattern emerged around 04:30 ET, as price broke above 0.1193 with a large body and a long lower shadow. This appears to signal a shift in sentiment. Additionally, a 61.8% Fibonacci retracement level of the earlier downtrend (0.12–0.1102) was retested at 0.1150 and held, suggesting strong support in this range.

Moving Averages

Using 20- and 50-period moving averages on the 15-minute chart, the 50-period line crossed above the 20-period line (a golden cross) at ~05:00 ET, reinforcing the bullish breakout. On the daily scale, the price remains above the 50- and 100-period moving averages, but the 200-period MA (not explicitly calculated here) likely acts as a critical long-term resistance.

MACD & RSI

The MACD line moved from a bearish cross into a bullish divergence by ~05:30 ET, aligning with the price breakout. The RSI bottomed at ~28 during the low at 0.1102 and rose to 52 by 12:00 ET, indicating a return to balanced momentum. While not yet overbought, the RSI trend suggests caution if the pair continues to rally above 0.1250 without a pullback.

Bollinger Bands

Volatility was most pronounced during the 05:30–06:30 ET period, where the bands widened significantly. Price moved from the lower band at 0.1227 to the upper band at 0.1330, confirming the strength of the reversal. The contraction before the breakout also suggests a consolidation phase before the explosive move. As of 12:00 ET, price is trading near the middle band, indicating a potential continuation phase.

Volume & Turnover

Volume spiked to 10.9M during the 05:30–06:30 ET hour, with a large number of trades concentrated around the 0.1227–0.1330 range, confirming the breakout. Notional turnover also surged during this window, supporting the legitimacy of the price move. No significant divergence was observed between price and turnover, suggesting strong institutional or retail participation.

Fibonacci Retracements

Applying Fibonacci levels to the key 0.12–0.1102 downtrend swing, the 38.2% level (~0.1149) acted as temporary support, while the 61.8% level (~0.1150) was a stronger pivot. This area held firm during a test in early ET hours. Looking forward, the 78.6% retracement (~0.1237) may offer resistance if the rally continues. The 1.0 extension (~0.1276) could become relevant for further momentum.

Backtest Hypothesis

The provided backtest strategy focuses on identifying breakout opportunities following a confirmed Fibonacci retracement of a major trend, combined with volume confirmation and RSI divergence. For this 24-hour period, such conditions were met at ~04:30 ET, with price crossing above 0.1193 on strong volume and RSI rising from oversold. A backtest could be constructed by entering a long position on the breakout above the 61.8% level with a stop-loss just below 0.1150. A target of 0.1250 would align with the 78.6% level and the upper Bollinger Band. This approach aligns well with the observed price behavior, making it a plausible candidate for further testing.