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The Hooked Protocol price pumped more than 19% over the past week to trade at $1.23 as of 2:45 a.m. EST as investors bet big on the altcoin’s future.
The Hooked Protocol Price Attempts To Break Resistance
4-hour chart for LINK/USDT (Source: TradingView)
The Hooked Protocol price is attempting to break the resistance level at $1.23. If the altcoin manages to close a 4-hour candle above this barrier, it may have the foundation needed to keep rising in the short term. This may lead to HOOK climbing to as high as $1.3281, which is the next major resistance level.
However, a rejection by the $1.23 price point in the next 24 hours could invalidate the bullish thesis. In this alternative scenario, the crypto may retest the immediate support level at $1.1393 in the following 24 hours. Continued sell pressure at this point may then put the crypto at risk of dropping to as low as $1.0566 in the short term.
The Hooked Protocol Price Could Keep Climbing In The Short Term
Technical indicators on HOOK’s 4-hour chart suggest the Hooked Protocol price may continue to rise in the next 48 hours. Bullish technical flags were recently triggered by both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) indicators.
The MACD line crossed above the MACD Signal line. Traders generally see this as a confirmation that a positive trend may carry on in the coming couple of days. Buyers also seem to be growing stronger, as the RSI crossed above its Simple Moving Average (SMA) line in the last 24 hours.
The MACD line is also breaking away above its MACD Signal line, while the RSI is rising above the SMA line. This not only signals that buyers’ strength is still increasing, but indicates that HOOK’s bullish trend is growing stronger as well. As a result, it may be easier for bulls to drive the Hooked Protocol price higher in the coming 48 hours than it will be for bears to pull it down.
While the Hooked Protocol price tries to overcome the major resistance level at $1.23 in the coming 24 hours, investors are rushing to get in early on Scotty the AI, which has just surged past $1 million in funds raised.
Making The Crypto Space Safe Again
Scotty the AI (SCOTTY) is the latest dog-themed meme coin to join the likes of similar cryptos such as Dogecoin (DOGE) and Shiba Inu (SHIB). However, SCOTTY has a massive edge over such peers as the project is backed by advanced AI models with real-world utility.
The crypto market has rallied over the past few weeks following the launch of spot Bitcoin ETFs (exchange-traded funds) in the U.S. on Jan. 11. This resurgence has opened up the opportunity for cyber criminals to exploit unsuspecting crypto investors. Scotty the AI aims to protect the crypto community from this growing threat by using sophisticated AI models.
The project’s AI is able to examine endless lines of code to identify potential threats buried deep within smart contracts. It can also uncover bugs that smart contract developers may have unintentionally missed.
Should it detect any security threats or bugs in the code, it will immediately notify crypto holders before they interact with the smart contract, preventing a potential loss of funds as a result.
💥Presale Update!💥
ScottyTheAi has raised $1,000,000 🚀
Reaching another mile stone in early stages of presale.Well on our way to closing out presale and heading for that $100M marketcap.
Congratulation to all the early #Scottydogs in presale 👏
Buy Now:… pic.twitter.com/9Die3RDJAe
— Scotty The Ai (@ScottyThe_Ai) February 29, 2024
Investors are voting with their wallets over the intrinsic value of the AI-powered meme coin, with its presale having already surged past the $1 million mark. Selling for $0.00605, SCOTTY can be bought using either ETH, USDT or bank card. A price hike is scheduled in about six days so buy soon if you are interested.
The meme coin can also be purchased using BNB and MATIC. However, purchases made using BNB and MATIC are not eligible for the 122% annual rewards up for grabs through the project’s lucrative staking program.
SCOTTY can be purchased here.
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