$HOOK is currently testing the lower Bollinger Band at 0.1264 after a 24-hour decline of 7.82%. This suggests potential overselling, especially as it approaches the support level of 0.1272. With the market sentiment undefined, traders should exercise caution. If price stabilizes above the lower band, it may signal a rebound; otherwise, a break could lead to further declines. Use a stop-loss slightly below 0.1272 to manage risk. Consider setting alerts for price action near 0.148 resistance to evaluate momentum for potential buys. Volatility appears to be contracting, indicating a possible breakout soon.
