Hooked Protocol price analysis: HOOK/USD bullish momentum maintains above $1.42 with target for bulls

TL;DR Breakdown

  • Hooked Protocol price analysis is bullish today
  • The strongest resistance is present at $1.43
  • HOOK price trades at $1.42 at the time of writing

Hooked Protocol’s price analysis shows rising signs as the market shows massive upside potential. The price has increased, reaching above the $1.42 level, and could soon break out of the key resistance levels to surge even higher if the bullish momentum continues. The bulls have regained their control of the HOOK market, which will change the course of the market for the better, and now expect the bullish period to take over in the next few days. The bullish momentum is strong, with a 24-hour volume of $9.4 million, an increase of 0.03% over the past 24 hours, and could continue increasing as investors look to capitalize on potential price breakouts. The market capitalization is currently at $70 million, with an increase of 1.46% in the past 24 hours, as per Hooked Protocol data.

Hooked Protocol price analysis 1-day chart: Bulls succeed in raising the price to $1.42

Looking at the daily chart, we can see that Hooked Protocol’s price is currently in a bullish trend. The prices are trading along with the ascending channel, and a breakout from the current range could set the tone for the next move. The buyers are currently in control as the prices are trading above the moving averages.

image 956
HOOK/USD 1-day price chart, Source: TradingView

The buying activity has heated up during today’s trading session, with the Bollinger Bands widening. The upper band is seen to be at $1.5786, with the lower band at $1.3326 and the middle line at $1.4556, indicating increased volatility in the market. The Relative Strength Index (RSI) score is increasing at a faster rate and has reached an index of 39.60, which indicates that the market is in oversold territory. The MACD line in blue is above the signal line in red, indicating that the bulls have the momentum to push prices higher.

HOOK/USD 4-hour price chart: Recent developments and further technical indications

On the 4-hour Hooked Protocol price analysis and hourly timeframes, the bulls have taken a breather, and the price is seen consolidating above the $1.42 level. Buyers need to sustain their buying interest and break above the key resistance level of $1.43 in order for further gains to be made over the medium term.

image 957
HOOK/USD 4-hour price chart, Source: TradingView

The technical indicators on the hourly chart show positive market sentiment, with the Relative Strength Index at 49.29 indicating that it is now in a neutral position, neither overbought nor oversold. The moving Average Convergence Divergence oscillator shows a bullish divergence. The highest level of resistance for HOOK indicated by the Bollinger band is at $1.4645. The bottom limit of the Bollinger band, which stands for the strongest support for the meme cryptocurrency, is currently around $1.3511.

Hooked Protocol price analysis conclusion

To sum up, Hooked Protocol price analysis indicates bullish momentum holding at $1.42, with over a 1.49% daily increase in price seen over the last 24 hours. The digital asset is currently trading at a key junction, and a breakout from either side of the range could set the tone for the next move. Traders should keep an eye out for any potential breakouts above this level. The technical indicators show positive market sentiment.


Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
Derrick Clinton

Derrick Clinton

Derrick is a freelance writer with an interest in blockchain and cryptocurrency. He works mostly on crypto projects' problems and solutions, offering a market outlook for investments. He applies his analytical talents to theses.