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Summary
• Price tested key support at 0.0417–0.0418 with partial recovery above 0.0435.
• Momentum shifted bearish midday with RSI and MACD diverging.
• Volatility expanded as Bollinger Bands widened from 0.0415 to 0.044.
• Turnover spiked 2026-01-12 08:45 ET with a 5.8 million dollar volume burst.
• 61.8% Fibonacci level at 0.0423 acted as a minor floor.
Market Overview
Cookie DAO/Tether (COOKIEUSDT) opened at 0.0448 on 2026-01-11 12:00 ET, reached a high of 0.0449, and fell to a low of 0.0416 before closing at 0.0418 on 2026-01-12 12:00 ET. Total volume for the 24-hour period was 13,971,831, with a notional turnover of approximately $58.5 million.
Structure & Formations
Price saw a bearish breakdown below 0.0426 in the early hours of 2026-01-12, forming a large bearish engulfing pattern. A key support zone emerged at 0.0417–0.0418, which held as price rebounded slightly after a 5.8 million dollar volume spike at 08:45 ET. A doji at 08:45 ET signaled indecision amid sharp declines, and the 61.8% Fibonacci retracement level of 0.0423 served as a temporary floor during the pullback.
Moving Averages
On the 5-minute chart, the 20-period and 50-period moving averages crossed below the price during the bearish breakout, reinforcing the downtrend. On the daily chart, the 50-period MA remains slightly above the 200-period MA, suggesting short-term bearish pressure amid a broader sideways trend.
MACD & RSI

Bollinger Bands
Volatility expanded significantly during the sell-off from 0.044 to 0.0416, with Bollinger Bands widening to reflect a range of 0.0415 to 0.044. Price closed near the lower band, suggesting possible continuation of the bearish move or consolidation if it holds the 0.0417 level.
Volume & Turnover
Volume surged during the key breakdown at 08:45 ET, reaching 1,397,183.1 units traded, with $58.5 million in turnover. This volume spike confirmed the breakdown rather than signaling exhaustion, suggesting bearish conviction. Subsequent volume has trended lower, indicating a potential pause in selling pressure.
Fibonacci Retracements
Key Fibonacci levels were drawn from the 0.044 to 0.0416 swing, with the 61.8% level at 0.0423 acting as a minor support. The 50% retracement at 0.0428 may serve as a potential retest level if buyers step in.
Forward Outlook
Price appears to be consolidating near the 0.0417 support, with potential for a small rebound if the level holds. A break below 0.0415 could open the door for a test of 0.0412. Investors should monitor volume and RSI for potential reversal cues, though current momentum remains bearish.
Risk caveat: A sudden increase in buying pressure or a bullish reversal pattern near key supports could trigger a short-term bounce, but the broader trend remains vulnerable to further downside.
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