The Hooked Protocol price climbed 3% in the last 24 hours to trade for $0.4901 as of 01:20 a.m. EST on trading volume that dropped 12%
HOOK holders are elated after a July 9 announcement that the network has collaborated with decentralized ecosystem Masa for web3 empowerment.
#HookedonWeb3Mastery #Hookedfrens
We're thrilled to share that @getmasafi has joined forces with us on the Hooked 2.0 expansion to empower Web3 mastery for perpetual growth!
đ Prepare for a future of Web3 education shaped by a robust partnership with Masa, the decentralized⊠pic.twitter.com/RKqbSiqYb5
â Hooked ProtocolđȘ (@HookedProtocol) July 9, 2024
The Hooked Protocol price is trading with a bearish bias despite the Wednesday bump. It remains stuck within the confines of a descending parallel channel with prospects for more losses as technical indicators flash bearish.
To begin with, the Relative Strength Index (RSI) is subdued below the mean level of 50, in a horizontal chop to show seller momentum overpowers buying pressure. The Moving Average Convergence Divergence (MACD) is also in negative territory, reinforcing the bearish stance.
Unless the bulls recover the market, the Hooked Protocol price could extend the fall to retest the $0.4045 support. A break below this support floor would enhance the downtrend, with the HOOK price likely to record a new range low.
GeckoTerminal: HOOK/USD 1-day chart
Nevertheless, there is hope, considering the Hooked Protocol price is recording higher lows and holding above the centerline of the channel. If the bulls keep up their buying appetite, the Hooked Protocol price could escape the confines of the channel above $0.7615.
For the predominant bearish outlook to be invalidated, however, the bulls must haul the Hooked Protocol price high enough to close above the upper boundary of the supply zone at $1.6506.
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Jump in the fun! đ https://t.co/jCeu7XMBqR pic.twitter.com/YjlGaaluBT
â shibashootout (@shibashootout) June 28, 2024
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