The $HOOK /USDT chart shows a strong bullish move, with the price jumping from around $0.0343 to $0.0379, reflecting a solid 9.54% gain. The price is currently trading above the moving averages, suggesting that the upward momentum could continue.
Entry Points:
A good entry point could be at the current price of $0.0379, but ideally, waiting for a pullback to around $0.0370 would provide a more favorable entry.
Stop Loss:
Set the stop loss just below the recent low at $0.0343 to manage risk and protect against a potential downtrend.
Take-Profit Levels:
First TP at $0.0396 (the recent high), aiming for a short-term target.
Second TP at $0.0400 for a small resistance level above the high.
Third TP at $0.0410, marking the next potential resistance level for a longer-term hold.
The chart looks strong for a potential long position, but be cautious of any pullbacks, which could provide an opportunity to enter at a lower price. Keep an eye on the momentum and adjust your stop loss and profit-taking levels accordingly.
