Analysis of Lao A’s views on HOOK on September 26, 2024
K-line shape: The recent K-line has shown a continuous upward trend, closing the positive line for many consecutive days, showing strong upward momentum.
Technical indicators:
1. MACD: Both DIF and DEA are above the zero axis, indicating that the market is in a strong upward stage.
2. RSI: RSI14 is currently 65.8662, which is close to the overbought zone, but has not yet entered an extreme overbought state, indicating that there is still room for growth.
3. EMA: The price has broken through and stabilized EMA7 and EMA30. It may continue to test upward in the short term, but there is still a certain distance from EMA120.
Trading volume: The recent trading volume has increased significantly, especially on September 24 and 25, when the trading volume reached 8,181,917 and 13,021,959 respectively, indicating high market participation.
The increase in trading volume, coupled with the increase in price, validates the current upward trend.
Regarding the 24-hour price trend of HOOK, I expect the price to continue to rise.
The recommended buying points are: 0.480 USDT, which is close to the low of the previous band and has support at integer points, and 0.470 USDT, which is near the EMA7 moving average. The long stop is set at 0.460 USDT 10 units below buy point two to avoid the risk of further declines.
The recommended selling points are: 0.520 USDT, which is close to the previous swing high and has the possibility of selling pressure at an integer point; and 0.530 USDT, which continues to rise after breaking through the previous high and has pressure at an integer point. The short stop is set at 0.540 USDT 10 units above sell point two to prevent the price from continuing to rise.
The above is only my personal opinion and is for reference only.
