Cookie DAO/Tether Market Overview

Summary
• Price dropped from 0.0742 to 0.068 within 24 hours amid bearish momentum and low volume consolidation.
• Key support around 0.0675–0.068 tested multiple times; resistance remains unchallenged near 0.073.
• Bollinger Bands showed tightening volatility early on, followed by a sharp expansion.

The Cookie DAO/Tether (COOKIEUSDT) pair opened at 0.0742 on 2025-11-03 at 12:00 ET and closed at 0.068 by 12:00 ET on 2025-11-04, reaching a high of 0.0751 and a low of 0.0675. Total volume for the 24-hour period was 15,675,501.8, with a notional turnover of approximately $1,100,330. The price movement reflected a strong bearish bias, marked by several key pullbacks and failed attempts to retest critical resistance levels.

Structure & Formations

The candlestick pattern observed over the 24-hour window displayed a bearish continuation bias. After a brief early rally where the price touched 0.0751, it entered a sustained downtrend. Notable bearish engulfing patterns appeared between 17:00 and 18:00 ET, reinforcing the downward shift. A strong doji formed near the 0.072 level, indicating indecision and potential consolidation before further movement. A bearish hammer near 0.068 suggested possible short-term bottoming, but without confirmation from follow-through volume.

Moving Averages

On the 15-minute chart, the price closed below the 20- and 50-period moving averages, both of which were in downward drift. On the daily chart, the 50-, 100-, and 200-day MAs remained aligned in a bearish slope, with no sign of a reversal. The price currently sits well beneath the long-term trend lines, reinforcing the bearish bias and suggesting limited near-term upside potential.

MACD & RSI

The MACD moved lower over the course of the day, reflecting sustained bearish momentum. The histogram showed a consistent contraction in bullish strength and a widening of bearish momentum, especially between 20:00 and 04:00 ET. The RSI remained in oversold territory for most of the session, reaching as low as 28–30. However, it failed to break above 40, indicating that bearish pressure remained intact and that any rally was met with selling pressure.

Bollinger Bands

Volatility was initially low, with the price consolidating within a narrow Bollinger Band range for the first five hours. From around 18:00 ET onward, volatility expanded sharply, with the bands widening significantly. The price moved well below the lower band at times, reinforcing bearish momentum. The current price sits near the lower band once more, suggesting the potential for further downside or consolidation.

Volume & Turnover

Volume surged during the initial bearish breakdown and then remained relatively consistent throughout the session, with occasional spikes during key pullbacks. The highest volume occurred at the 0.0712–0.0713 levels, suggesting strong selling pressure in that range. Turnover increased in tandem with price declines, particularly during the 23:00–04:00 ET period. Divergence between price and volume was not observed, which suggests continuation of the current trend is probable.

Fibonacci Retracements

Applying Fibonacci levels to the recent swing high (0.0751) and swing low (0.0675), the price found support at the 61.8% level (0.0704), which held for a short time before breaking. The 38.2% level (0.0696) was also tested and held briefly. The current price near 0.068 aligns with the 0% level of this retracement, suggesting further support testing may occur at 0.0675 or 0.0670, if this trend continues.

Backtest Hypothesis

The backtesting strategy under consideration focuses on identifying oversold RSI levels and using them to define potential entry points or trend continuation setups. However, the RSI data for the symbol “COOKIEUSDT” is currently unavailable due to possible limitations in the data provider’s coverage or formatting of the asset code. To proceed, we need confirmation of the exact symbol format (e.g., with an exchange prefix such as “BINANCE:COOKIEUSDT”), as well as the specific RSI period and oversold threshold to be used (14-period with a 30 threshold is standard). Alternatively, supplying custom RSI data or historical oversold dates for the same time period would allow for manual integration into the backtest. Once these details are confirmed, the analysis can be extended to include a robust event-based evaluation of the pair's behavior from 2022-01-01 to 2025-11-04.