Hooked Protocol (HOOK) is showing signs of a strong breakout after several weeks of sideways movement, increasing buyer interest.
Signals for HOOK Breakout
HOOK prices are testing resistance after five weeks of consolidation. The HOOK/USDT chart on Binance shows a symmetrical triangle forming, indicating a potential strong move soon.
Price Levels to Watch
Analyst Jonathan Carter points out potential target levels for HOOK: $0.130, $0.160, $0.220, and $0.265. He notes rising volume and the triangle pattern as bullish signals. Currently, HOOK is trading at $0.1143, up 2.26% in 24 hours.
Strong Support and Volume Indicate Possible Rise
HOOK may be forming a long-term bottom after a significant drop from its 2023 highs. The price has tested the $0.11 support multiple times, holding firm and potentially forming a double or triple bottom. A recent bounce from this support occurred with a strong volume spike, indicating robust buying interest.
Current data suggests that Hooked Protocol has growth potential if demand for the asset continues to rise. Monitor market movements for a possible breakout.
