Greed

bullish

Hooked Protocol

Coin

Hooked Protocol (HOOK) is currently attracting plenty of attention in the crypto world after its price went up 20% in just 24 hours. Analysts and investors are once again speculating that the token could hit new all-time highs (ATH). 
People are expecting HOOK to go up to $35 during this bullish cycle because of its quick rise. As HOOK gains momentum, the most important question is still whether it can keep growing and reach those lofty targets. 
Hooked Protocol represents the concept of “edutainment” designed to onboard individuals into the world of Web 3.0. The protocol provides a social learning space that promotes learning while earning. This makes it an excellent place for people who are new to decentralized technologies. 
Created for a fast-paced setting, Hooked Protocol aims to support the onboarding of decentralized apps (DApps) and infrastructures while fostering an ecosystem of community-owned economics. 
To achieve these goals, Hooked employs an educational strategy that gamifies the learning experience and incorporates incentive models. 
This method not only solves the problems of getting new people started with Web3, but it also encourages them to start their Web3 journey, which leads to wide adoption. 
<h2 class="wp-block-heading" id="h-hook-price-action-and-market-sentiment">HOOK Price Action and Market Sentiment</h2> 
HOOK price rallied up to $0.4418, up from $0.36 in less than a day, marking a near 20% increase. This price movement has pushed the token’s market cap to $75.1 million, with a 24-hour trading volume of $22.7 million, indicating renewed interest in the asset. 
However, the cryptocurrency has recently corrected and is currently trading at $0.4257 a 14.3% increase over the past 24 hours. As the broader cryptocurrency market, led by Bitcoin, begins to recover, altcoins like HOOK are emerging as potential big winners in the anticipated altseason. 
<h2 class="wp-block-heading" id="h-analyst-predictions-and-technical-analysis">Analyst Predictions and Technical Analysis</h2> 
Earlier this year, in January, a prominent crypto analyst known as CryptoBullet&nbsp;<a href="https://x.com/CryptoBull_360/status/1822221666283294751">shared</a>&nbsp;a macro chart analysis of HOOK, identifying key price targets. 
He noted that anything below $0.9 was a strong long-term buy, with major resistance expected between $2.10 and $2.60. CryptoBullet set three ambitious price targets for HOOK: $7.20, $15.00, and $35.00. 
By June 30, CryptoBullet provided an update, affirming that HOOK had reached the ‘Aggressive Buy’ zone. In this update, the analyst emphasized that Target 2 ($15.00) was his primary focus, signaling strong confidence in the token’s upward potential. 
<figure class="wp-block-image size-large">
 <img loading="lazy" decoding="async" width="1024" height="550" src="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-1024x550.png" alt="HOOK/USDT Price Action, Source: @CryptoBullet x" class="wp-image-657606" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-1024x550.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-300x161.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-768x412.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-1536x825.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-150x81.png 150w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-696x374.png 696w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-1068x574.png 1068w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3-1920x1031.png 1920w, https://www.thecoinrepublic.com/wp-content/uploads/2024/08/image-6-3.png 2000w" sizes="(max-width: 1024px) 100vw, 1024px">
 <figcaption class="wp-element-caption">
 HOOK/USDT Price Action, Source: @CryptoBullet x
 </figcaption>
</figure> 
Technically, HOOK is currently trading within a wedge pattern—a formation that often precedes significant price breakouts. The token has respected the support and resistance lines within this pattern, indicating that a breakout could be imminent. 
If HOOK manages to break out above the resistance, the first target of $7.20 appears attainable. Beyond that, analysts are watching for the $15.00 level, with the most bullish predictions pointing toward a $35.00 ATH—a scenario that would result in a 90x return for investors who bought at current levels. 
The positive sentiment surrounding HOOK is further supported by broader&nbsp;<a href="https://www.thecoinrepublic.com/2024/08/09/crypto-market-surpasses-2-trillion-btc-eth-rally-stronger/">crypto market</a>&nbsp;trends. Bitcoin’s recent climb back to the $60,000 mark has improved the Crypto Fear and Greed Index to a score of 40, reflecting a steady recovery and a shift away from extreme fear. This improving sentiment in the crypto market could create favorable conditions for&nbsp;<a href="https://www.thecoinrepublic.com/2024/05/10/top-7-altcoins-under-1-to-explode-in-2024/">altcoins</a>&nbsp;like HOOK to thrive and achieve their bullish targets. 
The post <a href="https://www.thecoinrepublic.com/2024/08/10/can-hooked-protocol-hook-hit-a-new-35-ath-after-20-rally/">Can Hooked Protocol (HOOK) Hit a New $35 ATH After 20% Rally?</a> appeared first on <a href="https://www.thecoinrepublic.com">The Coin Republic</a>.

Can Hooked Protocol (HOOK) Hit a New $35 ATH After 20% Rally?

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