π HOOK has recently exhibited significant market dynamics, particularly as it encounters resistance in its current trading range.
π HOOK needs to break and reclaim the price above this resistance level to signal a bullish reversal and probability continue its upward movement toward our target area.
π However, if HOOK fails to overcome this resistance and experiences rejection, there is a possibility that the price will retreat and test support levels. The demand area around $1.16 to $1.023 is crucial in this scenario, as it has historically provided significant support.
π If HOOK reaches the demand area, it must bounce from this level to maintain its bullish momentum. Failure to do so could lead to a bearish continuation, with the price potentially experiencing further downward movement.
π HOOK needs to break and reclaim the price above this resistance level to signal a bullish reversal and probability continue its upward movement toward our target area.
π However, if HOOK fails to overcome this resistance and experiences rejection, there is a possibility that the price will retreat and test support levels. The demand area around $1.16 to $1.023 is crucial in this scenario, as it has historically provided significant support.
π If HOOK reaches the demand area, it must bounce from this level to maintain its bullish momentum. Failure to do so could lead to a bearish continuation, with the price potentially experiencing further downward movement.
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