Cookie DAO/Tether Market Overview

• Cookie DAO/Tether (COOKIEUSDT) traded in a 24-hour range of 0.0882–0.1006, closing at 0.0952 on increasing volume.
• Momentum shifted between overbought and oversold RSI levels, with MACD showing bearish divergence late in the day.
• A notable bullish engulfing pattern emerged after a sharp selloff, signaling potential short-term buying interest.
• Volatility expanded mid-day, with price breaking out of a Bollinger Band contraction, supporting a breakout bias.
• Total notional turnover reached $36.7 million, with a peak during the 9:45–10:00 ET session.

The Cookie DAO/Tether (COOKIEUSDT) pair opened at 0.0882 on October 12 at 12:00 ET and closed at 0.0952 on October 13 at the same time, with a high of 0.1006 and a low of 0.0882 over the 24-hour period. The total volume traded was 13.98 million USDT, translating to a notional turnover of $36.7 million. Price action showed a clear bearish-to-bullish shift late in the session.

Structure & Formations

Price formed a sharp selloff from 0.0999 to 0.0918 on October 13 around 11:30 ET, followed by a bullish engulfing pattern between 10:00–10:15 ET, confirming a reversal. A key support level emerged at 0.0945, which held during a mid-day pullback, while resistance at 0.0963 and 0.0975 showed failed attempts to break higher. A doji formed near 0.0955 around 13:15 ET, signaling indecision before the final rally.

Moving Averages

On the 15-minute chart, the 20-period MA crossed below the 50-period MA late morning, but reversed later in the session as price surged above the 20-period line. For the daily timeframe, the 50-day MA is at 0.0935, while the 200-day MA is at 0.0892, suggesting the pair is currently in a short-term bullish phase despite the longer-term bearish trend.

MACD & RSI

The RSI reached an overbought level of 72 at 0.1006 and later fell to 34, indicating oversold conditions at 0.0918. The MACD line turned bearish as the 9-period signal line crossed above it in the morning, but reversed when price surged after 10:00 ET. A bearish divergence appeared between 13:00–14:00 ET as price made higher highs while MACD declined, potentially signaling a short-term top.

Bollinger Bands

Volatility contracted sharply during the 9:30–10:00 ET period as price hovered near the mid-Bollinger Band, followed by a breakout to the upper band at 0.1004. Price then pulled back into the mid-band during the afternoon, with the lower band at 0.0928 acting as support. The 24-hour volatility (standard deviation) stood at approximately 0.0063, a moderate reading for this pair.

Volume & Turnover

Trading volume surged between 10:00–10:45 ET, peaking at $3.8 million in the 10:00–10:15 ET session, with a corresponding price rebound. Notional turnover reached $3.6 million in the same period, confirming the price move with volume. However, a divergence emerged between 13:00–14:00 ET, where price continued rising on declining volume, suggesting a potential exhaustion of bullish momentum.

Fibonacci Retracements

A key Fibonacci retracement level at 0.0945 (38.2% of the 0.0882–0.1006 range) held during the afternoon consolidation, while the 61.8% level at 0.0975 failed to hold as price pulled back. On the daily chart, the 61.8% retracement of a recent 0.085–0.100 move sits at 0.0927, aligning with current support levels and suggesting a possible test of this level in the next 24 hours.

Backtest Hypothesis

The bullish engulfing pattern, confirmed by volume and momentum indicators, supports a potential short-term trading opportunity. A backtest using a fully invested position (100% allocation) and assuming zero transaction costs could test this pattern on COOKIEUSDT from 2022–01–01 to today. Using the 15-minute OHLCV data, the backtest would validate the profitability of entering long positions on bullish engulfing setups confirmed by RSI divergence and Bollinger Band breakouts. Given the current market structure, this strategy could serve as a viable short-term signal generator for COOKIEUSDT, provided volume and price action continue to align with pattern confirmation.