$HOOK Technical Analysis | Buy Setup đ„
#HOOK Technical Analysis: Symmetrical Triangle Formation
Hooked Protocol (HOOK) is nearing the critical apex of a symmetrical triangle pattern on the daily chart, suggesting an imminent breakout.
A confirmed breakout from this consolidation pattern could signal the beginning of a bullish rally, potentially leading to significant price movements. Based on current technical indicators, we are watching key resistance levels at $0.52, $0.71, and $0.96.
Should these levels be reached, $HOOK could experience a 120-130% rise in the midterm, making this an important zone for traders and investors to monitor.
Key Takeaways:
Symmetrical triangle nearing its apex.
Breakout could lead to a substantial upward move.
Midterm price targets: $0.52, $0.71, and $0.96.
Always consider risk management strategies, especially in volatile markets like crypto, and keep an eye on volume and confirmation signals before entering positions.
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