Hooked Protocol (HOOKUSD) Price Forecast: November 20
The HOOKUSD pair is rising at the moment. The coin price is rising towards the $1.00 upper resistance levels and may continue. As a result, if buyers can put more effort into their market tension, the trend will shift upward to the $0.96 high value and extend further to reach a $1.00 upper resistance level, resulting in intraday gains for buy trades.
Key Levels:
Resistance Levels: $0.439, $0.440, $0.441
Support Levels: $0.400, $0.399, $0.398
HOOK (USD) Long-term Trend: Bullish (Daily Chart)
On higher time frames, the HOOKUSD price is rising towards the upper resistance trend levels and remains bullish. It is obvious, as prices are trading above the EMA-50, approaching the upper resistance zone due to the significant impact of buying investors on the coin. The bulls’ high order flow at the $0.420 level in the past few days has contributed to this bullishness in its recent high.
Today’s daily chart shows a broader recovery in Hook Protocol prices is rising towards overhead resistance. The coin price jumped to a $0.438 supply level above the EMA-50 at the time of writing this article.
As a result, staying above the EMA-50 indicates a high likelihood of a bullish continuation pattern. Hence, a strong break up above the $0.969 previous high resistance level would amplify the bullish pressure toward the $1.00 upper resistance level.
Similarly, the market price of HOOKUSD is pointing up on the daily stochastic, implying that the token price is rising and may continue in the same direction towards the $1.00 upper resistance levels soon as the bulls continue the rising pattern in its long-term outlook.
HOOK (USD) Medium-term Trend: Bullish (4H Chart)
The price currently trades above the supply levels, confirming its bullishness. The Hook Protocol price is currently trending up and remains in a bullish market in its medium-term outlook. The sustained bullish pressure to a $0.418 high level in the previous action has led to the coin’s recent high.
As the 4-hour chart resumes today, the bulls have reached the resistance level of $0.447 above the moving averages, rising toward the upper resistance levels. However, the buy traders could not relent, as they aim to continue trending up and drag the price further towards a significant level at the upside.
However, the bullish correction at the mentioned resistance level is an indication that the bulls are planning to strongly move the price of Hook Protocol towards a high level at the upsides and the $1.00 supply trend line might be the target also in the future in its medium-term perspective.
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