Cookie DAO/Tether Market Overview for 2025-11-07

Summary
• Price surged from 0.0661 to 0.0731 amid bullish momentum.
• RSI overbought conditions flagged as price approached 0.073.
• High volume confirmed breakout above key resistance near 0.071.

The Cookie DAO/Tether (COOKIEUSDT) pair opened at 0.0661 on 2025-11-06 at 12:00 ET and surged to a high of 0.0731 before closing at 0.0726 on 2025-11-07 at 12:00 ET. Total 24-hour trading volume reached 99,143,160.9 and turnover amounted to 6,932.66 USD. The price action reflected strong buying pressure, particularly in the afternoon and early evening ET.

Structure & Formations

The 24-hour chart displayed a strong bullish reversal with price forming a Bullish Engulfing pattern on the 15-minute timeframe. Key support levels were observed around 0.0665–0.067 and 0.0653–0.066, while resistance was tested and then broken at 0.0701 and 0.071. A notable 50% Fibonacci retracement level from the recent swing low to high was at 0.0695, which acted as a pivot before the price surged higher.

Moving Averages

On the 15-minute chart, the price moved decisively above the 20-period and 50-period moving averages, confirming a strong short-term uptrend. On the daily chart, the 50-period moving average is at 0.0681, the 100-period at 0.0678, and the 200-period at 0.0673, indicating a positive divergence as the price climbs above key moving averages.

MACD & RSI

The MACD line crossed above the signal line early in the day, reinforcing the bullish trend. RSI reached overbought territory near 0.073, signaling potential exhaustion in the upward move, though strong volume suggests the trend may continue. The RSI also showed a divergence in the afternoon, hinting at a possible consolidation or pullback in the short term.

Bollinger Bands

Bollinger Bands showed a clear expansion as the price surged, with the upper band reaching 0.0726 at the close. Price closed near the upper band, indicating strong momentum. A contraction in volatility was observed before the breakout, which may have signaled the start of a new bullish phase.

Volume & Turnover

Volume spiked significantly after 17:00 ET, particularly during the breakout above 0.071. The notional turnover increased in tandem with price, indicating strong institutional or retail participation. No significant divergence between price and volume was observed, suggesting that the bullish move is well-supported.

Fibonacci Retracements

The 38.2% retracement level from the recent swing low was at 0.0677, where the price found temporary support. The 61.8% retracement level at 0.0695 acted as a pivot before the price surged to new highs. On the 15-minute chart, Fibonacci levels confirmed key turning points, especially during the consolidation and breakout phases.

Backtest Hypothesis

The strategy of buying the COOKIEUSDT pair when a Bullish Engulfing pattern forms and holding it for one day resulted in a 54.8% profit, significantly outperforming the market benchmark. This approach leverages the predictive power of candlestick patterns and short-term momentum to capture sharp price swings. The pattern formation indicated a reliable reversal signal, while the one-day holding period aligned with the observed strong momentum and volume confirmation. This strategy underscores the value of technical analysis in identifying high-probability entry points for short-term gains.