The chart for $HOOK highlights a critical support zone between $0.388 and $0.358, crucial for maintaining the bullish structure. If the price holds above this level, a rebound toward the $0.45 resistance is likely, aligning with the SMA 55 and SMA 89. While the recent breakdown below the trendline indicates short-term bearish pressure, the RSI at 36.21 (oversold) suggests potential for recovery.
Key Scenarios
📈 Bullish
Holding the support zone and RSI moving upward could push the price toward $0.45. A breakout above $0.45 may drive the price higher to $0.48 - $0.50.
📉 Bearish
A breakdown below $0.358 could lead to further downside, targeting $0.32 or lower.
Signal ⚠️
Buy: Near the $0.388-$0.358 support zone, targeting $0.45, with a stop-loss below $0.358.
Sell: On a breakdown below $0.358, target $0.32.
(Chart by gimferati via TradingView)
Disclaimer: This content is for informational purposes only and should not be considered financial advice. Cryptocurrency investments are highly volatile and carry significant risk. Always conduct thorough research, consult with a financial advisor, and trade responsibly. Past performance is not indicative of future results.