HOOK/USDT – Daily Chart Analysis
HOOK is currently rebounding from a key horizontal support zone between $0.088 and $0.096. This zone has acted as a strong demand area in recent months, with multiple rejections from the lower boundary indicating buyers stepping in.
The price is showing short-term bullish momentum with a strong daily candle closing above the support, but it remains below the 100-day EMA at $0.1234, which continues to act as dynamic resistance.
RSI is at 45.77 and showing early signs of recovery but is still below the neutral 50 level, which suggests momentum is not yet strongly in favor of the bulls.
At the moment, HOOK is consolidating between the support zone and the 100 EMA. This range-bound price action indicates compression, which often leads to a breakout.
