Cookie DAO/Tether Market Overview: 24-Hour Summary as of 2025-10-23

• Cookie DAO/Tether (COOKIEUSDT) declined by ~3.6% in 24 hours amid moderate volatility and mixed candlestick patterns.
• Key support tested at $0.0806–0.0808, with bearish momentum intensifying in the second half of the session.
• Volume surged at $0.0806–0.0818, suggesting renewed short-term interest but lacking conviction to break higher.
• RSI and MACD signaled moderate oversold conditions, hinting at potential near-term bounce.
• Bollinger Bands expanded during the selloff, highlighting increased uncertainty in market sentiment.

Cookie DAO/Tether (COOKIEUSDT) opened at $0.0833 (12:00 ET − 1) and traded between $0.0777 and $0.0839, closing at $0.0815 (12:00 ET). Total 24-hour volume reached 13,073,391.5, while turnover amounted to $1,066,932.9. The session was marked by a distinct downtrend post-18:00 ET and a sharp selloff into the early hours of October 23, which triggered multiple intraday breakouts and retracements.

Structure & Formations

The price action on COOKIEUSDT displayed a bearish bias over the 24-hour period, with a key breakdown occurring at the $0.0816–0.0818 zone. A series of bearish engulfing patterns emerged around 19:30–20:00 ET and again at 01:00–02:00 ET on October 23, confirming a shift in momentum. A doji near $0.0808 at 04:15 ET signaled indecision. Notably, the pair tested the $0.0806–0.0808 support twice, forming a potential bullish reversal base, but failed to close above the zone.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA, forming a bearish “death cross” signal. On the daily chart, the 50-period MA sits just above the 200-period MA, indicating a slightly bullish bias over a longer horizon. However, the immediate 15-minute dynamics suggest short-term bearish pressure is intensifying.

MACD & RSI

MACD remained bearish with a negative histogram and a flattening line, indicating waning bearish momentum. RSI dipped into the 30–35 range by 08:00 ET, signaling potential oversold conditions and a possible bounce. However, the bearish divergence between price and RSI in the second half of the session suggests caution before assuming a reversal.

Bollinger Bands

Bollinger Bands expanded significantly during the selloff between 21:00–23:00 ET and again between 03:00–05:00 ET, indicating heightened volatility. Price remained near the lower band for much of the session, especially between 01:30–06:00 ET, reinforcing the bearish bias. The band contraction at 09:00–10:00 ET hinted at a potential reversal, though it was short-lived.

Volume & Turnover

Volume surged during the bearish breakdown at $0.0806 and again at $0.0818–0.0811, indicating aggressive selling pressure. Turnover spiked at both levels, validating the breakdowns. Notably, volume was relatively subdued during the 02:00–04:00 ET consolidation period, suggesting a lack of conviction in the bearish move. However, the divergence between price and volume in the final hours of the session may hint at a potential exhaustion in the downtrend.

Fibonacci Retracements

Applying Fibonacci levels to the key 15-minute swing between $0.0833 (16:00 ET) and $0.0806 (01:15 ET), the pair found temporary support at the 38.2% level (~$0.0818) and the 61.8% level (~$0.0811). These levels were tested twice, with the 61.8% acting as a key magnet for bounces. On a daily basis, the 61.8% level at $0.0817–0.0818 may serve as a critical near-term pivot.

Backtest Hypothesis

The current price behavior and candlestick formations—particularly the bearish engulfing patterns and oversold RSI—could be used to develop a backtest for COOKIEUSDT based on a specific candlestick strategy. For example, testing the “Bullish Engulfing” pattern as a potential entry signal may offer insights into COOKIEUSDT’s behavior under similar conditions. A backtest covering 2022–2025 could clarify whether such a pattern historically resulted in profitable countertrend bounces. However, due to a data provider issue, we were unable to retrieve the necessary historical dataset for this backtest. If you can confirm the correct ticker symbol, provide the signal dates, or switch to a different backtest target, we can proceed.