HOOK Advances to $0.1149 After Breakout From Descending Pattern

HOOK trades at $0.1149 after a 3.0% daily increase, breaking above a descending trendline.

Support remains steady at $0.1109, while resistance is set at $0.1189.

In Bitcoin terms, HOOK gained 3.3% to trade at 0.051001 BTC within the 24-hour range.

Hooked Protocol (HOOK) burst through a downtrend line this week, trading at $0.1149 after a 3.0% gain in 24 hours. The breakout followed several sessions of consolidation, with the price contained between a solid support zone and close-by resistance. Current chart activity shows an acceleration of momentum, supported by consistent trading volume.

Recent Performance and Key Price Levels

The long-term range of the token over the last 24 hours was between the bottoms of $0.1109 and the tops of $0.1189. The current market values the token at $0.1149 after recording an across-the-board gain from earlier levels. In Bitcoin terms, HOOK advanced 3.3% during the same period and is now valued at 0.051001 BTC

The $0.1109 mark has been the immediate support, with resistance still capped at $0.1189. It demonstrates the significance of these levels to short-term traders. The asset’s ability to sustain above support has coincided with increased testing of resistance, keeping market focus on these boundaries.

Market Reaction and Breakout Activity

The chart pattern shows a decisive breakout above the descending trendline, which had limited upward moves through early August. This breakout positioned the price closer to resistance, while confirming $0.1109 as a support base. Notably, trading volumes increased during this shift, indicating stronger participation in recent sessions.

With the current market price just below $0.1189, attention remains on whether HOOK can maintain its higher range. The alignment of support and resistance continues to shape near-term behavior.

Short-Term Outlook Within the Trading Range

The $0.1109 support remains the foundation for current price stability. As long as HOOK trades above this level, upward moves remain possible toward $0.1189. However, if resistance persists, the token could continue consolidating within the observed corridor.

The 4-hour timeframe chart highlights the importance of both boundaries. As the asset fluctuates within this zone, traders are monitoring market responses near these technical points. HOOK’s recent breakout has brought these levels into sharper focus, defining its current trading dynamics.