Summary
• Price fluctuated between $0.0344–$0.0356, consolidating near key resistance and support levels.
• Momentum remains weak, with RSI showing no overbought or oversold signals.
• Volatility expanded during the 22:30 ET candle due to a sharp selloff.
• Volume spiked during the selloff but declined afterward, suggesting exhaustion.
• Fibonacci retracement levels suggest potential pullback risks below $0.0351.
Hooked Protocol/Tether (HOOKUSDT) opened at $0.0351 on 2025-12-20 12:00 ET, reached a high of $0.0356, and a low of $0.0344, closing at $0.0347 as of 2025-12-21 12:00 ET. Total volume was 5,143,606.9 with $175,320.8 in turnover over the 24-hour window.
Structure & Candlestick Patterns
Price action formed multiple consolidation patterns, with a bearish engulfing candle emerging around 22:30 ET when the price dropped from $0.0355 to $0.0349, signaling short-term bearish momentum.
A doji at 04:45 ET and 06:45 ET suggested indecision, likely due to a narrowing price range as buyers and sellers balanced out. Key support appears at $0.0351, while resistance holds near $0.0355–$0.0356.
Moving Averages and Momentum
On the 5-minute chart, the price frequently oscillated between the 20-period and 50-period moving averages, indicating a lack of strong directional bias. The daily chart shows a slightly bearish crossover between the 50-period and 200-period moving averages, suggesting a continuation of the broader bearish trend may be in play. RSI hovered between 40–55, showing neutral momentum with no clear overbought or oversold signals.
Volatility and Bollinger Bands
Bollinger Bands displayed a moderate expansion during the 22:30 ET candle, aligning with the sharp selloff. Price retracted toward the lower band afterward, but did not break through it, indicating potential support. Volatility contraction resumed in the early hours of the morning, coinciding with lower trading activity.
Volume and Turnover Divergences
Volume spiked sharply during the 22:30 ET candle, reaching a peak of 738,339.3 units, but failed to push the price higher, suggesting bearish divergence. Turnover mirrored this trend, peaking at the same time before declining in the following hours. This pattern could indicate exhaustion among short-term sellers, though confirmation is needed in the next 24 hours.
Fibonacci Retracements
Applying Fibonacci retracements to the recent 5-minute swing high of $0.0356 and low of $0.0344, key levels include 38.2% at $0.0351 and 61.8% at $0.0348. A break below $0.0348 could trigger deeper bearish momentum, potentially testing the next support at $0.0345.
The market may continue to consolidate in the near term, with a likely test of the $0.0351 support level. Investors should monitor volume during key price moves for confirmation or divergence, as a sharp increase could signal renewed momentum. A breakout below $0.0344 may accelerate the trend downward, but caution is warranted until clear follow-through is seen.
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