Market Overview: Cookie DAO/Tether (COOKIEUSDT) on 2025-09-24

• Price surged 2.9% over 24 hours, closing above key resistance at 0.111.
• RSI moved into overbought territory while MACD showed bullish divergence.
• Bollinger Bands expanded, indicating rising volatility and potential trend continuation.
• Volume spiked sharply in early ET morning, confirming bullish price action.
• A bearish correction appears possible near 0.1103 support level.

Cookie DAO/Tether (COOKIEUSDT) opened at 0.1102 on 2025-09-23 at 12:00 ET and closed at 0.1131 on 2025-09-24 at 12:00 ET, reaching a high of 0.1156 and a low of 0.1066 during the 24-hour window. The pair surged 2.9% on strong volume of 23.2 million tokens and a notional turnover of $2.66 million, showing signs of sustained momentum.

Structure & Formations
The 15-minute chart displayed a bullish continuation pattern, with a clear breakout above a prior resistance cluster around 0.111. A strong green engulfing pattern emerged at 0.1102–0.1108 between 16:30 ET and 17:00 ET, followed by a consolidation phase and a final bullish breakout in the early hours of 2025-09-24. A potential bearish reversal could emerge near the 0.1103 level, where a prior bearish pinocchio candle formed.

Moving Averages
On the 15-minute chart, the 20-period and 50-period moving averages are in bullish alignment, with price trading above both. On the daily chart, the 50-period MA has crossed above the 100-period MA, suggesting a developing bullish bias in the longer term. The 200-period MA, however, remains a key hurdle at 0.1106, which has yet to be decisively cleared.

MACD & RSI
MACD showed a bullish divergence in the final hours of the 24-hour period, with the histogram expanding and crossing above zero. The RSI reached overbought territory, peaking at 75–80, which may indicate a potential pullback in the short term. However, the strong volume during this phase suggests the overbought level may not trigger a sharp reversal immediately.

Bollinger Bands
Volatility expanded significantly as price reached the upper band, especially in the late hours of the session. Price remained within the bands for most of the period, but the expansion in the 04:00–06:00 ET window indicates a potential continuation of the bullish trend. A move back toward the lower band could indicate a temporary consolidation or retracement.

Volume & Turnover
Volume spiked to a peak of 1.07 million tokens at 04:00 ET, coinciding with a sharp drop to 0.1082, suggesting short-term profit-taking or a washout. The subsequent bullish recovery was confirmed by a volume surge of 1.02 million tokens at 04:45 ET. Notional turnover also increased significantly in the final 6 hours of the session, aligning with the bullish price action and suggesting strong conviction from market participants.

Fibonacci Retracements
Applying Fibonacci levels to the 0.1066–0.1156 swing, the 61.8% retracement level is at 0.1119, which has acted as a minor support and could see renewed buying interest. The 38.2% retracement level at 0.1135 could serve as a short-term cap if the bullish momentum slows.

Backtest Hypothesis
The backtesting strategy focuses on entering long positions when price breaks above the 50-period moving average on the 15-minute chart and RSI crosses above 50. This is complemented by a stop-loss placed below the 20-period moving average. The strategy also includes an exit rule when MACD histogram begins to contract. Given the recent alignment of the 50-period MA and RSI above 50, and a bullish MACD divergence, this approach may have captured much of the recent rally and could remain valid in the near term if the trend holds.