Crypto Market Overview for Cookie DAO/Tether (COOKIEUSDT) — 2025-11-08

Summary

• Price surged to a high of 0.0816 before retracing to close at 0.0774.
• A strong positive divergence in RSI and MACD indicates potential bearish momentum reversal.
• Volatility expanded with volume spiking during the rally and tapering during the pullback.
• A 15-minute bullish engulfing pattern failed to hold, suggesting bearish pressure.
• Cookie DAO/Tether is consolidating around the 0.0772–0.0778 range, a potential key support cluster.

Market Overview

Cookie DAO/Tether (COOKIEUSDT) opened at 0.072 on 2025-11-07 12:00 ET, surged to a high of 0.0816 during the early morning hours (ET), and closed at 0.0774 by 12:00 ET on 2025-11-08. The 24-hour volume was 18653371 (in units of Cookie DAO), and the total notional turnover was 1475089.6 USDT. Price action suggests a failed bullish breakout attempt, with bearish momentum reasserting control.

Structure & Formations

Price formed a strong bullish thrust between 0.072 and 0.0816, followed by a pullback into a consolidation phase. Key resistance levels at 0.0805 and 0.0821 were rejected. A bearish engulfing pattern formed around 0.0815–0.0812, indicating potential bearish momentum. Notable support levels include 0.0772–0.0778, where price has found temporary respite.

Moving Averages

On the 15-minute chart, the 20-period and 50-period moving averages indicate bearish crossover behavior after the high at 0.0816. Price is currently below both, suggesting short-term bearish bias. Daily MAs (50, 100, 200) are not fully visible in this window but would likely indicate a neutral to bearish bias if plotted over the broader timeframe.

MACD & RSI

MACD formed a bearish crossover with a declining histogram, indicating waning bullish momentum. RSI peaked at 70 (overbought) near the high of 0.0816 and has since retreated to neutral levels (~55), signaling potential for further consolidation or pullback. A positive divergence between RSI and price during the pullback suggests market exhaustion could be setting in.

Bollinger Bands

Volatility expanded during the rally phase, with price reaching the upper band at 0.0816. As price retraced, it fell within the bands, now consolidating near the mid-band. This indicates a potential shift to a lower-volatility phase ahead.

Volume & Turnover

Volume spiked during the rally, particularly between 0.079–0.0816. However, during the pullback, volume declined sharply, raising concerns about conviction. Notional turnover aligned with price action, peaking at 0.0816. A divergence between price and volume during the pullback may suggest weakening bearish conviction.

Fibonacci Retracements

Applying Fibonacci to the recent 15-minute swing from 0.0778 to 0.0816 shows the current price near the 61.8% retracement level (~0.0797), though it has dipped below. This could be a potential area for a short-term bounce, but bearish momentum remains intact.

Backtest Hypothesis

The technical profile of COOKIEUSDT aligns with the RSI-based backtesting strategy outlined. A potential backtest could apply an RSI(14) overbought threshold of 70 to identify sell signals and a 3-day exit rule. Given the recent overbought peak and bearish MACD crossover, this strategy could have triggered a sell signal around 0.0816, aligning with the observed price pullback. Testing this approach on the full 2022–2025 dataset would provide insight into its consistency across varying market conditions.