1. BITBILIHome
  2. Article

Hooked Protocol price analysis: HOOK experiences further decline as the downward trend pushes it to $1.50

• 44 views

TL;DR Breakdown

  • Hooked Protocol price analysis is bearish today.
  • Support for HOOK is present at $1.43.
  • Resistance for HOOK/USD is present at $1.61.

Today, the Hooked Protocol price analysis indicates a decrease in price as it drops to $1.50. Recent hours have witnessed fluctuations in cryptocurrency trends, leading to a resurgence of bearish sentiment. Although the bearish momentum is not robust, it has succeeded in lowering the value of the cryptocurrency once again. After following an upward trajectory for the majority of the past week, the coin has now continued its downward movement for the second consecutive day, following the established pattern.

HOOK/USD 1-day price chart: HOOK bulls losing ground to the downtrend

Based on the 1-day Hooked Protocol price analysis, a minor price decrease has occurred in recent days. The value of HOOK has fallen to $1.50, representing negative progress in comparison to the previous week. Moreover, the moving average (MA) value is currently below the SMA 50 at $1.45, reinforcing the bearish outlook. Furthermore, the gradual decrease in volatility should be viewed as a negative hint for the forthcoming days.

hook1dfewHooked Protocol price analysis: HOOK experiences further decline as the downward trend pushes it to <img decoding=
HOOK/USD 24-hour price chart. Source: Tradingview

Moreover, the Bollinger bands’ values have also altered in the last few hours, as the upper band has reached the $1.93 level and the lower band has reached $1.22. The Relative Strength Index (RSI) score is also decreasing and is following the downward curve as it has decreased up to 41 today.

Hooked Protocol price analysis: Recent developments and further technical indications

In the 4-hour Hooked Protocol price analysis, the price is declining, with the coin value dropping to $1.50. Additionally, the moderate volatility indicates that the losses are expected to be minimal today.

hook4hdswqHooked Protocol price analysis: HOOK experiences further decline as the downward trend pushes it to <img decoding=
HOOK/USD 4-hour price chart. Source: Tradingview

In the 4-hour price chart, the Bollinger bands average rests at $1.48, accompanied by a moving average value of $1.50. The upper Bollinger band is observed at $1.54, while the lower band is at $1.42. The RSI score has flattened to 55, pointing to a lack of momentum from both sides of the market.

Hooked Protocol price analysis: Conclusion

Based on the most recent 1-day and 4-hour Hooked Protocol price analysis, bearish activity has been detected in the price charts. The price has further decreased to $1.50 today, but it is still above the support level, implying the potential for a reversal in trends.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

文章来源于互联网:Hooked Protocol price analysis: HOOK experiences further decline as the downward trend pushes it to $1.50

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年5月20日 09:42
Next 2023年5月20日 11:43

Related articles

  • MUFG to enable Japanese banks in launching Yen-pegged stablecoins on public blockchains

    TL;DR Breakdown MUFG, Japan’s largest bank, is launching Progmat Coin, a stablecoin issuance platform, to enable Japanese banks to issue yen-pegged stablecoins on public blockchains. The platform will support stablecoin issuance on Ethereum, Polygon, Avalanche, and Cosmos, with plans to expand to other networks in the future. The move comes as new regulations in Japan allow trust banks to issue stablecoins, opening up opportunities for banks to explore digital currency offerings. Japan’s largest bank, Mitsubishi UFJ Financial Group (MUFG), has announced its stablecoin issuance platform, Progmat Coin, which several Japanese banks will soon utilize to launch Japanese yen-pegged stablecoins on multiple public blockchains. This move comes as new regulations have opened avenues for trust banks to explore stablecoin offerings. MUFG’s Progmat Coin to facilitate stablecoin issuance MUFG revealed that Progmat Coin would serve as the backbone for issuing bank-backed stablecoins on Ethereum, Polygon, Avalanche, and Cosmos, with plans to incorporate more networks in the future. The platform aims to provide a universal digital asset payment method for stablecoins, other cryptocurrencies, and even a Japan-based central bank digital currency (CBDC). It…

    Article 2023年6月8日

  • France and Germany’s expansion strategy for the EU

    TL;DR Breakdown France and Germany have presented a proposal to reshape the EU, especially regarding its expansion. The strategy emphasizes majority voting for state decisions, stricter rules on democracy and the rule of law, and an expanded EU budget. These proposals will be the core of discussions at an upcoming EU leadership summit in Granada, Spain. Description As the tides of change sweep over Europe, with its geopolitical complexities and challenges, France and Germany have risen to take the lead. They’re at the forefront, presenting transformative strategies to reshape the EU, particularly in light of its anticipated expansion. And while their intentions might seem grand, it’s imperative we dig beneath the surface … Read more As the tides of change sweep over Europe, with its geopolitical complexities and challenges, France and Germany have risen to take the lead. They’re at the forefront, presenting transformative strategies to reshape the EU, particularly in light of its anticipated expansion. And while their intentions might seem grand, it’s imperative we dig beneath the surface to fully grasp the magnitude and implications of their proposals….

    Article 2023年9月20日

  • NFT insider trading: A new frontier in digital asset fraud

    TL;DR Breakdown Nathaniel Chastain, ex-head of product at OpenSea, was sentenced to three months in prison for using inside knowledge to profit from NFT trades, marking a significant case in digital asset insider trading. Cases like Chastain’s and former Coinbase product manager Ishan Wahi highlight the need for clear regulations and ethical standards in the rapidly growing digital asset industry. Description The digital realm has been buzzing with the rise of non-fungible tokens (NFTs), unique digital tokens that represent ownership of a particular asset, often digital art. But with the rise of this new digital asset class comes new challenges and controversies. One such controversy has recently come to light, involving Nathaniel Chastain, the former head … Read more The digital realm has been buzzing with the rise of non-fungible tokens (NFTs), unique digital tokens that represent ownership of a particular asset, often digital art. But with the rise of this new digital asset class comes new challenges and controversies. One such controversy has recently come to light, involving Nathaniel Chastain, the former head of product at OpenSea, a leading…

    Article 2023年8月23日

  • G20 meeting sparks crypto clash, why key officials reject ban and embrace coordination

    TL;DR Breakdown Kristalina Georgieva, the Managing Director of the International Monetary Fund (IMF), voiced her stance against an outright ban on cryptocurrencies.  This call for collaboration during the G20 meeting was seen as a response to the growing complexity and influence of cryptocurrencies in the modern financial landscape.  The ideas exchanged in the roundtable had a notable impact on India’s plans to present its own presidency note on crypto regulations.  Description In a recent roundtable discussion held during a G20 meeting, prominent economic officials emphasized the need for enhanced global coordination when it comes to regulating cryptocurrencies. This call for collaboration was seen as a response to the growing complexity and influence of cryptocurrencies in the modern financial landscape. Notably, Kristalina Georgieva, the Managing Director of … Read more In a recent roundtable discussion held during a G20 meeting, prominent economic officials emphasized the need for enhanced global coordination when it comes to regulating cryptocurrencies. This call for collaboration was seen as a response to the growing complexity and influence of cryptocurrencies in the modern financial landscape. Notably, Kristalina Georgieva,…

    Article 2023年8月16日

  • Huobi and Tron’s executives allegedly arrested by Chinese police

    TL;DR Breakdown Crypto analyst Adam Cochran has released a Twitter thread alleging Huobi and Tron’s executives were arrested in China. Cochran revealed a substantial increase in the off-ramping of USDT, with a sudden withdrawal of $36 million in USDT occurring within the last 48 hours. Description Crypto analyst Adam Cochran has released a Twitter thread alleging Huobi and Tron’s executives were arrested in China. According to Techub News, he says, credible sources have disclosed that the Chinese police have taken at least three Huobi encryption exchange executives into custody for investigation involving areas like manpower, R&D, and finance.  The individuals allegedly … Read more Crypto analyst Adam Cochran has released a Twitter thread alleging Huobi and Tron’s executives were arrested in China. According to Techub News, he says, credible sources have disclosed that the Chinese police have taken at least three Huobi encryption exchange executives into custody for investigation involving areas like manpower, R&D, and finance.  The individuals allegedly apprehended include Wan Ming, who holds the position of Tron’s head of product; Rain Ren, Tron’s head of chain tech; Fai…

    Article 2023年8月6日
TOP