Technical analysis by ScramblerG about Symbol HOOK: Buy recommendation (7/1/2025)

HOOK has successfully broken out of a long-term descending trendline on the 4H chart, signaling a potential trend reversal to the upside. The breakout is backed by strong volume and price action above key resistance. Analysis: After weeks of lower highs, HOOK has flipped the structure by breaking the trendline and reclaiming horizontal resistance. Price is now holding firmly above the breakout level, indicating bullish strength. Key Levels to Watch: Support Zones: $0.1063 – Retest of trendline breakout (ideal entry zone) $0.0996 – Previous structure base and strong horizontal support Stoploss: Below $0.0990 (invalidate breakout setup) Resistance/Targets: $0.1234 – First upside target (short-term) $0.1508 – Major horizontal resistance from May $0.1796 – Final upside target if momentum continues Strategy: As long as price holds above $0.1063, bias remains bullish. A healthy pullback toward support may provide a better entry opportunity for those waiting on confirmation. Breakout traders may ride the momentum up to $0.1234+ DYOR | Not Financial Advice