Cookie DAO/Tether Market Overview

Summary
• Cookie DAO/Tether fluctuated between 0.0626 and 0.0694 with a 0.0675 open and 0.0685 close.
• Volatility rose midday before stabilizing; volume spiked at 0.0665 and 0.0685.
• RSI near 50 suggested neutral momentum, with MACD hinting at potential bullish divergence.
• Bollinger Bands narrowed around 0.066–0.067, indicating potential for a breakout.
• Fibonacci retracements suggested possible retests at 0.0664 (38.2%) and 0.0655 (61.8%).

Cookie DAO/Tether (COOKIEUSDT) opened at 0.0675 on 2025-11-04 at 12:00 ET, reached a high of 0.0694 and a low of 0.0626, and closed at 0.0685 on 2025-11-05 at 12:00 ET. The 24-hour trading volume totaled 18.56 million cookies, with a notional turnover of $1,266,366. The pair showed moderate price consolidation after a sharp sell-off early in the session, followed by a partial recovery in the afternoon. Key support levels appear to have formed around 0.066–0.067, while 0.068–0.069 levels acted as dynamic resistance.

The price action revealed a bearish engulfing pattern at 0.067–0.068 early in the session, followed by a bullish reversal later in the day. Momentum indicators like RSI hovered around 50, suggesting neutral sentiment, while MACD crossed above the signal line, hinting at a potential short-term bullish shift. Bollinger Bands showed a moderate expansion after a contraction between 0.0662 and 0.0671, indicating increasing volatility. On the 15-minute chart, the 20-period moving average crossed above the 50-period line around midday, adding to the bullish tilt.

Looking at the Fibonacci retracement levels drawn from the 0.0694 high to the 0.0626 low, the 38.2% and 61.8% levels at 0.0664 and 0.0655 appear as potential areas of interest. These levels could offer resistance or support depending on how institutional activity plays out in the next 24 hours. On the daily chart, the 50-period moving average is slightly above the 200-period line, indicating a long-term neutral to bullish bias, but the 100-period line is pressing downward, suggesting a cautious approach.

The volume profile showed a notable increase between 0.0665 and 0.0685, particularly during the 20:30–22:30 ET timeframe. This period coincided with a sharp rebound off the 0.0643 support level, suggesting accumulation by market participants. Notional turnover also spiked during this time, reinforcing the idea of increased interest. However, a divergence between price and volume emerged in the final hours of the session, with lower volume supporting higher prices, which could signal a potential near-term correction.

Backtest Hypothesis
The backtest described focuses on a strategy based on identifying Bullish Engulfing patterns in Cookie DAO/Tether (COOKIEUSDT). By scanning for these candlestick formations over the past three years and holding for up to three trading days, the strategy attempts to capture short-term bullish momentum. This aligns with the current 15-minute chart structure, where multiple reversal patterns have emerged within the 0.066–0.068 range. The absence of stop-loss or take-profit rules allows for natural market expression, which may be beneficial in a low-volatility environment like the one observed today. The performance metrics, including win rate, average P&L, and max drawdown, will be crucial in assessing whether such a strategy could offer a viable edge in COOKIEUSDT’s current structure.