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

Summary
• Price opened at $0.0745 and closed at $0.0732 after a $0.0745 high and $0.0716 low.
• A 24-hour volume of 5,552,260.9 and turnover of $410,219.1 signaled increased participation.
• A late-night surge to $0.0769 was followed by a bearish reversal into morning consolidation.

Market Overview

Cookie DAO/Tether (COOKIEUSDT) opened at $0.0745 at 12:00 ET on 2025-11-10 and closed at $0.0732 by 12:00 ET on 2025-11-11, after reaching a high of $0.0769 and a low of $0.0716. Total trading volume for the 24-hour period was 5,552,260.9, with notional turnover at $410,219.1. The price action featured a strong bullish breakout in the early hours, followed by a bearish correction and consolidation toward the end of the period, indicating a tug-of-war between buyers and sellers.

Structure & Formations

Price moved within a key $0.0730–$0.0760 range, with clear resistance around $0.0770 and support at $0.0730. A bearish engulfing pattern formed at $0.0763–$0.0754, followed by a bullish reversal at $0.0756–$0.0764. A long lower shadow near $0.0716 suggests potential support, but a failure to hold above $0.0730 could trigger further declines. A possible breakout above $0.0770 would signal a shift in control to the bulls.

Moving Averages

On the 15-minute chart, the 20-period and 50-period SMAs showed a bearish crossover after the 00:00 ET candle closed at $0.0757. The 50-period SMA on the daily chart crossed below the 200-period SMA, indicating a bearish bias over the longer term. However, the 50-period SMA remained above the 100-period SMA, suggesting the bearish move may not yet be fully confirmed.

MACD & RSI

MACD crossed below the zero line and the signal line in the early morning, confirming bearish momentum after the peak at $0.0769. RSI fell into oversold territory (below 30) during the morning hours, indicating a possible bounce near $0.0720–$0.0730. However, the divergence between price and RSI suggests caution, as the RSI did not react to the price low as strongly as expected, hinting at a deeper correction could be ahead.

Bollinger Bands

Price traded near the upper Bollinger Band during the late-night rally, showing heightened volatility. A contraction in band width was observed around 04:00 ET, indicating a period of consolidation before a breakout attempt. Following the consolidation, price moved toward the middle band, suggesting continued uncertainty and potential for a reversal.

Volume & Turnover

Volume surged at $0.0769 (candle at 20:00 ET), confirming the high as a significant price level. However, volume dropped off as price declined below $0.0760, suggesting weak conviction. A sharp increase in volume occurred between 04:00 and 06:00 ET as price dropped below $0.0750, aligning with a bearish breakdown. The divergence between volume and price during the consolidation phase implies a lack of directional clarity.

Fibonacci Retracements

Applying Fibonacci levels to the $0.0716–$0.0769 swing, key retracements include 38.2% at $0.0744 and 61.8% at $0.0736. Price tested $0.0744 with mixed conviction and appears to be consolidating near $0.0736, indicating a potential pivot zone. A break below $0.0730 (61.8% level) could target $0.0716, while a retest of $0.0744 may signal a short-term bounce.

Backtest Hypothesis

A potential backtesting strategy could focus on identifying and capitalizing on bullish reversal patterns, such as the engulfing or bullish harami, around the key $0.0730–$0.0740 zone. Given the current price structure and the RSI divergence, a long entry at a 38.2% Fibonacci retracement level with a stop just below a confirmed break of $0.0730 could be tested. This approach would align with the technical indicators and volume behavior observed, aiming to capture short-term countertrend bounces.