Market Overview for Cookie DAO/Tether (COOKIEUSDT) on 2025-09-23

• Cookie DAO/Tether trades lower over 24 hours, with price falling from 0.113 to 0.1098, showing bearish sentiment.
• Volatility increased mid-session with sharp pullbacks below 0.1110, followed by consolidation above 0.1100.
• Volume surged near session lows, indicating accumulation or capitulation, while RSI suggests oversold conditions.
• A large-volume bearish reversal candle at the session low hints at potential short-term support near 0.1100.
• MACD and RSI show divergence in late hours, signaling potential for a near-term rebound or continuation of the decline.

Cookie DAO/Tether (COOKIEUSDT) opened at 0.113 on 2025-09-22 12:00 ET and traded as high as 0.1145, before declining to a 24-hour low of 0.1080. The pair closed at 0.1098 at 12:00 ET on 2025-09-23, reflecting bearish momentum. Total volume amounted to 9,288,238.9, and notional turnover reached $1,027,939.40, showing increased interest during key price swings.

Structure and price action revealed a strong bearish bias, with a key support level forming around 0.1100–0.1105, where the pair consolidated after a sharp selloff. A notable bearish engulfing pattern appeared on the 15-minute chart around 03:15 ET, signaling a potential short-term reversal. However, the formation of a long-legged doji near 0.1100 suggests indecision and potential for a bounce. A key resistance zone appears at 0.1125–0.1130, where buyers previously failed to sustain upward momentum.

The 20- and 50-period moving averages on the 15-minute chart remained bearish, with price consistently trading below both. The 50-period MA on the daily chart is also bearish, aligning with the broader trend. MACD showed a bearish crossover in early hours, reinforcing the downward bias, while RSI dropped below 30, indicating oversold conditions that could invite short-covering or a temporary rebound. Bollinger Bands widened significantly during the selloff, suggesting a period of high volatility. Price found a temporary floor near the lower band at 0.1080, reinforcing the 0.1100 psychological level as a possible support cluster.

Fibonacci retracement levels applied to the recent 15-minute swing from 0.1145 to 0.1080 showed price consolidating near the 61.8% level (~0.1100), which could act as a pivot point. Daily Fibonacci levels from earlier bearish moves also suggest 0.1080 as a strong support, with 0.1125 as a key resistance. A retest of 0.1100–0.1105 may trigger a short-term bounce, but a break below this level could extend the bearish trend.

Backtest Hypothesis

Given the observed bearish engulfing and doji patterns, combined with oversold RSI and price consolidation near Fibonacci levels, a backtesting strategy could be constructed to enter short positions on a confirmed break below 0.1100, with a stop-loss above 0.1108 and a target aligned with the 0.1080 level. A long bias could also be considered if price retests the 0.1105–0.1108 range and closes above it with increasing volume, suggesting a potential reversal. A moving average crossover (e.g., 20 MA above 50 MA) could be used as an exit signal or for position reversal. Given the high volatility and divergence in MACD and RSI, the strategy would need to incorporate trailing stops and risk management to mitigate rapid price swings.