Will #HOOK Continue to Rise or a Trap is Being Set? Must Watch

Yello Paradisers! Have you seen the recent price action of the #HookedProtocol or not? Let's see what's happening with #HOOK and its next move:

💎#HOOKUSDT has been moving in a clear falling wedge pattern, with price respecting both the descending resistance and support levels since late April. After multiple rejections from the lows, we finally saw a breakout from the wedge, which is a potential sign that bulls are preparing for a shift in structure.

💎Currently, #HOOKUSD is trading near 0.1120, and the 50EMA is now acting as support, which increases the probability of a continued move higher. The first area we are watching is 0.1242, which now acts as the moderate resistance. If the market manages to hold above this level, it opens up the path toward 0.1938, the next strong resistance, and a level where profit-taking becomes critical.

💎However, if bulls fail to hold the structure and price breaks back below 0.0779, then the entire bullish setup becomes invalid. In that case, we’ll likely revisit the 0.0600 region, and the trapdoor opens for late buyers who ignored the warning signs.

Stay sharp, Paradisers. The market is about to pick a side and we’ll be on the right one.

MyCryptoParadise
iFeel the success🌴