Summary
• Price declined from 0.0406 to 0.0395, forming bearish engulfing and breakdown patterns.
• RSI dropped into oversold territory while volume surged near the session low.
• Volatility expanded as price drifted under 20-period MA and within contracting Bollinger Bands.
• 0.0395–0.0397 levels show initial support; key resistance remains at 0.0401–0.0403.
Hooked Protocol/Tether (HOOKUSDT) opened at 0.0406 on 2026-01-14 at 12:00 ET, reached a high of 0.0406, and closed at 0.0395 as of 2026-01-15 at 12:00 ET, with a low of 0.0381. The 24-hour volume was 12,548,175.7 and notional turnover was 495,848.40.
Structure and Price Action
The price action showed a clear breakdown from consolidation near 0.0403–0.0406, with bearish engulfing patterns forming around 0.0397–0.0403 and a large bearish candle on 2026-01-14 at 23:30. A key support cluster appears forming between 0.0393–0.0397, where price has tested multiple times during the session.
Momentum and Indicators
The RSI dropped below 30 during the session low near 0.0381, indicating potential oversold conditions. The MACD showed bearish divergence as price lows were lower while the MACD histogram did not confirm the momentum. These signs may suggest exhaustion or a potential short-term bounce.
Volatility and Averages
Bollinger Bands showed a slight contraction before the breakdown at 0.0397–0.0403, followed by a sharp expansion as price moved lower. The 20-period MA on the 5-minute chart acted as a bearish guide, with price settling well below it. The 50-period MA on the daily chart is near 0.0403, reinforcing that key resistance level.
Volume and Turnover
Volume spiked during the breakdown phase at 23:30 ET and again at 03:45 ET as price hit 0.0383. Turnover confirmed the lower price levels, showing no divergence. However, volume at the 0.0393–0.0395 range appears weaker, suggesting that a rebound may face challenges.
Key Levels and Projection
Fibonacci retracements from the 0.0381–0.0406 swing show 0.0393 as a 38.2% level and 0.0397 as a 61.8% level, both of which may act as immediate supports. A move above 0.0401–0.0403 could re-engage the 50-period MA as potential resistance.
Over the next 24 hours, a test of 0.0393–0.0395 may occur, with potential for a short-term bounce if buyers emerge. However, the overall bias remains bearish, with risk of a break below 0.0393 into 0.0389–0.0391. Investors should remain cautious of potential follow-through selling into that zone.
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