HOOK/USDT Consolidation on the support area. Could HOOK Bounce ?

💎 HOOK has become a notable focus in the financial market. It's currently in a retesting phase at the support area, which previously acted as a resistance zone. A critical observation is HOOK's consolidation at this support level. For a continuation of its upward trajectory towards a probable strong resistance area, a significant bounce from the support is necessary.

💎 However, if HOOK continues to consolidate at the support area without making a decisive move, it could be a concerning indicator for its future movement. Prolonged consolidation may lead to a potential breakdown of the support level. Should this occur, HOOK might retreat to the demand area.

💎 Once at the demand level, it's crucial for HOOK to demonstrate a strong recovery, aiming to reclaim or break through the resistance again, to resume its upward journey. Failure to achieve this could lead to a continuation of the downward trend. If HOOK fails to breach the resistance area, there's a risk it could further break down the demand level, potentially heading towards a more substantial support area.

Trade closed: target reached:

Another win! #HOOK up 52.20%, as forecasted!