Market Overview for Hooked Protocol/Tether (HOOKUSDT)

Summary
• Price formed a bearish engulfing pattern near 0.0434–0.0446, signaling potential bearish reversal.
• Volume surged to 1.32M at 19:15 ET, coinciding with a 0.0432–0.044 peak.
• 24-hour RSI fell from overbought to neutral, indicating easing upward momentum.
• Bollinger Bands narrowed midday, followed by a sharp expansion as price dropped below the lower band.
• Fibonacci retracement at 61.8% (~0.0427) acted as a temporary floor during overnight decline.

Hooked Protocol/Tether (HOOKUSDT) opened at 0.0431 on 2025-12-10 at 12:00 ET, hitting a high of 0.0446 and a low of 0.0401, before closing at 0.0401 on 2025-12-11 at 12:00 ET. Total 24-hour volume amounted to 15,499,545.6 with a turnover of approximately $6.23 million.

Structure & Formations

Price reached a key resistance at 0.0446 before retreating sharply, forming a bearish engulfing pattern on the 5-minute chart. . A doji near 0.0441 hinted at indecision, while the 0.0432–0.0439 range emerged as a pivotal support cluster. Price eventually broke below 0.0430, confirming a bearish bias.

Moving Averages

The 20-period and 50-period moving averages on the 5-minute chart converged between 0.0434 and 0.0437, suggesting a congested short-term trend. On the daily chart, the 50-day MA sat at ~0.0428, indicating that the current move aligns with a medium-term bearish trend.

MACD & RSI

The 24-hour MACD turned negative after 19:30 ET, confirming bearish momentum. RSI dropped from overbought territory (70+) to a neutral zone (~52), signaling reduced bullish pressure. The indicator may test oversold levels in the coming hours if the downward move persists.

Bollinger Bands

Volatility contracted during the midday lull, with price tightening into the bands. This was followed by a sharp expansion and a drop below the lower band overnight, suggesting a break in equilibrium and the start of a more directional move.

Volume & Turnover

Volume spiked to 1.32 million at 19:15 ET as price surged to 0.044, confirming initial bullish strength. However, volume declined during the sharp sell-off below 0.0430, indicating a potential exhaustion in bearish momentum. Turnover remained aligned with price action, with no major divergences.

Fibonacci Retracements

A key 61.8% retracement level at ~0.0427 held temporarily as a support, but failed to prevent further decline. The 38.2% retracement (~0.0434) acted as a resistance during attempts to rebound. Further retests of 0.0416–0.0420 may offer critical clues for the next phase.

Price may test 0.0416–0.0420 as a potential short-term floor in the coming 24 hours, but bearish momentum could persist if volume remains muted. Investors should watch for signs of a reversal near 0.0416 or a breakdown below 0.0411 as a key risk event.