$HOOD USDT Pullback or Bull Trap After 73 Rejection
HOODUSDT Perp is currently trading around 72.3 after rejecting near the 73.5–74.0 intraday resistance zone. The 24h high sits at 77.18 while the 24h low is 70.24, showing strong volatility. Price recently pushed aggressively upward but faced heavy selling pressure, forming sharp red candles on the 15m chart.
Technical Analysis
Immediate resistance: 73.50 – 74.00
Major resistance: 77.00 – 77.20
Immediate support: 71.50
Strong support: 70.20 – 70.30
The sharp rejection from 73.5 suggests sellers are defending that level. Short-term structure still shows higher lows, but momentum is weakening after the recent spike. RSI on lower timeframes is likely cooling down from overbought territory, while MACD momentum appears to be flattening after a bullish expansion. If price holds above 71.50, the bullish structure remains intact. A break below 70.20 could shift short-term bias bearish.
Market Sentiment
Currently Neutral to Slightly Bullish. Buyers showed strength earlier, but the rejection signals caution. Volume suggests active participation, meaning volatility may continue.
Strategy
Trade with confirmation. Aggressive traders may look for long entries near 71.50 support with tight risk management. Conservative traders should wait for a clean breakout above 74.00 before entering longs. If price breaks below 70.20, short setups become valid. My recommendation right now: Wait for confirmation before committing size.
Are you expecting continuation toward 77 or a deeper correction toward 70?
Not Financial Advice. Always manage your risk.
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