Market Overview for Hooked Protocol/Tether (HOOKUSDT)

• Price surged to 0.1535 from 0.1135, a 44% increase in 24 hours.
• Volume spiked to 19.3M at 12:45 ET, coinciding with a 0.1238–0.1396 rally.
• RSI reached overbought levels (>70) near the 0.1535 high, indicating potential pullback risk.
• Bollinger Bands widened as volatility increased post 7:30 ET.
• Key support appears near 0.1139–0.1144; resistance at 0.1235–0.1251.

At 12:00 ET on 2025-10-03, Hooked Protocol/Tether (HOOKUSDT) opened at 0.1142, surged to 0.1535, and closed at 0.1126. Total volume reached 193,214,070, with turnover of $28.8 million. The 24-hour session saw high volatility, particularly after 7:30 ET, with multiple trend reversals and strong buying pressure.

Structure & Formations

The price action formed a bullish engulfing pattern around 0.1200–0.1230, followed by a bearish rejection at 0.1309–0.1349, where volume spiked but price fell below the opening. A morning session high at 0.1535 coincided with a large bullish candle and strong volume. Key resistance levels appear at 0.1235, 0.1268, and 0.1308, while support is likely found at 0.1144, 0.1113, and 0.1090.

Moving Averages

On the 15-minute chart, the 20-period SMA crossed above the 50-period SMA multiple times, suggesting short-term bullish momentum. On the daily chart, price remains above the 50/200 SMA but below the 100 SMA, indicating a mixed near-term outlook. If price holds above 0.1144, it could suggest a continuation of the bullish phase.

MACD & RSI

The MACD histogram expanded during the morning rally, confirming the strength of the move. RSI reached overbought territory near 0.1535 and has since pulled back, now consolidating around the 50–55 range. This suggests a potential short-term mean reversion. A close above 0.1190 could reinvigorate bullish momentum, while a fall below 0.1113 may signal further weakness.

Bollinger Bands

Volatility increased significantly after 7:30 ET, with price breaking out of a tight range. Bollinger Bands widened to accommodate the 0.1535 high, and price has since oscillated within a narrower range. If volatility tightens again, traders may expect consolidation or a breakout from the recent high-low range of 0.1078–0.1535.

Volume & Turnover

Volume spiked at 12:45 ET with the largest notional turnover of $26.9 million. This coincided with the price moving from 0.1238 to 0.1396. Subsequent volume has been lower, indicating that the buying pressure may be cooling. A divergence between price and volume may suggest an impending reversal. Notably, the 0.1535 high was supported by volume, but the following bearish move occurred on lower turnover, signaling a possible shift in market sentiment.

Fibonacci Retracements

Applying Fibonacci levels to the 0.1078–0.1535 swing, key levels are 0.1389 (61.8%), 0.1420 (78.6%), and 0.1237 (50%). Price pulled back to 0.1335 and 0.1257, suggesting that 0.1235 could act as a pivot level. If price tests 0.1139–0.1144, it may find a floor, especially if volume supports a rebound.

Backtest Hypothesis

A potential backtest strategy could involve entering long positions when price crosses above the 20-period SMA on the 15-minute chart, confirmed by a bullish engulfing pattern and increasing volume. Exit long positions when RSI exceeds 70 or price closes below the 50-period SMA. Short positions could be triggered on a bearish reversal at 0.1309–0.1349, confirmed by a bearish divergence in the MACD. This approach balances momentum and risk management, with stop-loss placed just below key support levels.