price of $HOOK is showing signs of a potential bearish reversal. The current price is consolidating near the 7-period Moving Average (0.0357), which is acting as dynamic resistance. Furthermore, the 99-period MA (0.0353) and recent price highs around 0.0363 are converging to form a strong supply zone. With volume indicators showing a significant decrease from the 5-period MA, buying momentum appears weak, increasing the probability of a downward move.

Entry Zone: 0.0355 - 0.0360

TP1:0.0345

TP2:0.0335

TP3:0.0325

Stop Loss:0.0365

Risk Management: Use only a small portion of your capital (1-2%). Consider moving your stop loss to break-even once price reaches TP1 to mitigate risk.

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HOOK
HOOKUSDT
0.03734
+7.98%