Market Overview for Hooked Protocol/Tether (HOOKUSDT) – November 8, 2025

Summary• Price surged above 0.0600 on elevated volume, forming bullish engulfing patterns.
• Momentum slowed after hitting 0.0618, with RSI hinting potential overbought conditions.
• Volatility expanded as price oscillated within 0.0580–0.0608, with Bollinger Bands widening.
• Turnover diverged from price during the afternoon, raising questions about sustainability.
• Key support at 0.0585 tested twice, with 0.0600 as immediate resistance.

Hooked Protocol/Tether (HOOKUSDT) opened at 0.0572 on November 7, 12:00 ET, reaching a high of 0.0618 before closing at 0.0607 as of 12:00 ET on November 8. The 24-hour period saw total volume of 11.46 million and turnover of $687,000, reflecting moderate but inconsistent demand.

Price action showed a sharp rebound above 0.0600, supported by a bullish engulfing pattern and rising volume. The rally extended to 0.0618, but momentum stalled, with price retreating into a consolidation range. Key resistance appeared at 0.0603–0.0608, while 0.0585 served as a critical support level, failing to hold twice during the session. A potential breakout scenario remains contingent on sustained volume and directional clarity.

Volatility expanded as Bollinger Bands widened, with price hovering near the upper band during the early hours and retracting toward the middle band after 18:00 ET. The 15-minute RSI approached overbought territory (70+) during the sharp rally, suggesting a potential reversal or consolidation phase. Meanwhile, MACD showed fading bullish divergence, with a bearish crossover hinting at possible short-term profit-taking.

Fibonacci retracements drawn from the recent 0.0580–0.0618 swing indicate key levels at 0.0596 (38.2%) and 0.0607 (61.8%), both of which are currently under observation. Volume and turnover diverged during the afternoon, with price rising while turnover dipped, signaling mixed sentiment. A retest of 0.0600 could confirm its role as a pivot, while a breakdown below 0.0585 would target 0.0570 on a bearish continuation.

Backtest Hypothesis

The backtesting framework under consideration seeks to evaluate a simple trend-following strategy for HOOKUSDT using MACD and RSI indicators. It employs a long-entry signal when the MACD line crosses above the signal line (12-26-9 parameters) and RSI is above 50, confirming bullish momentum. A short-entry signal is triggered when MACD crosses below the signal line and RSI drops below 50, suggesting bearish bias. Each position is held for 5 trading days to assess risk-adjusted returns and drawdowns. To ensure robustness, the backtest will be run from January 1, 2022, to November 8, 2025, using consistent slippage and commission assumptions. This approach will help quantify the viability of a systematic strategy in a highly volatile, low-cap asset like HOOKUSDT.