Hooked Protocol Price Surges 3.7% Following Partnership Announcement with Masa
The Hooked protocol price has surged 3.7% in the last 24 hours to trade at $0.4803 as of 4:10 a.m. EST, on a 12.7% pump in trading volume to $7.6 million. This surge follows the announcement that Masa has teamed up with the Hooked 2.0 expansion to empower Web3 mastery for continuous growth.
#HookedonWeb3Mastery #Hookedfrens
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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!
🔗 Prepare for a future of Web3 education shaped by a robust partnership with Masa, the decentralized… pic.twitter.com/RKqbSiqYb5
— Hooked Protocol🪝 (@HookedProtocol) July 9, 2024
The collaboration promises a future of Web3 education shaped by a robust partnership with Masa, a decentralized network for Fair AI that allows people to earn by contributing data. AI developers are empowered to build anything, anywhere, using the world’s data.
Masa, supported by Digital Currency Group, Anagram, and Animoca and incubated by Binance and Hashkey, made headlines in 2024 as the first AI project to debut on CoinList Token Launch, with a viral 17-minute sale. Integrating the Hooked Alumni System aims to revolutionize the user experience and enhance social learning.
Hooked Protocol Price Statistics
- HOOK price: $0.4803
- Market cap: $81.9 million
- Trading volume: $7.6 million
- Circulating supply: 170 million
- Total supply: 500 million
Hook Protocol Price Bulls Gear Up For A Bull Rally
The HOOK price bulls have been under heavy pressure from the bears, who have pushed the price to drop to the support level of $0.45. However, the bulls took over once the price hit this support zone, pushing the price back up. This movement suggests a potential bullish reversal, indicating the trend might be shifting from bearish to bullish.
If the bulls can maintain this momentum, it could indicate a broader shift in the market trend from bearish to bullish. Traders will closely monitor this trend change for further confirmation through higher highs and sustained upward movement.
The market is showing strong signs of bullish momentum ahead. It is currently trading below the 50-day simple moving average (SMA). Increased momentum should push the price to the 200-day SMA. This level will become the new support once the market surpasses the 50-day SMA. If the bulls maintain their momentum, they could surpass the 200-day SMA, supporting the chances of a bullish crossover.
The Relative Strength Index (RSI) also points to a potential bullish crossover as it climbs toward the 50-midline level. This midline is crucial because crossing above it indicates a shift from bearish to bullish momentum, meaning average gains are starting to outpace average losses. If the bulls keep up their momentum and push the RSI even higher, the market could reach the 70-overbought level.
The Moving Average Convergence Divergence (MACD) also offers evidence of a potential bullish crossover. Currently, the MACD line is moving upward, approaching the signal line. This movement is a bullish sign indicating that the short-term momentum is higher than the long-term momentum. Moreover, the green histogram bars in the MACD indicator are increasing in both number and size, which suggests strengthening bullish momentum.
Hook Price Prediction
The bulls are showing considerable strength to drive the price up as they regroup at the $0.45 support zone. This support may help the bulls fly the price up, aiming for a $1.47 high. However, if the bullish momentum falters, the price might decline to $0.45 support zone. If the selling pressure increases, HOOK could sleep below this level, forcing the bulls to find haven at $0.38 support.
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Charles Kibue
Charles Kibue is a cryptocurrency researcher and writer with published works on Crypto2Community and a range of other sites. He has also worked as a technical writer, researching NFTs and crypto projects. Charles is an English Literature graduate residing in Kenya. He possesses additional expertise in market analysis and offers accurate and reliable insights, staying up-to-date with the latest developments in the crypto industry. Beyond his professional pursuits, Charles enjoys hiking and horse riding in his leisure time.
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