Market Overview: Cookie DAO/Tether (COOKIEUSDT)

• Cookie DAO/Tether (COOKIEUSDT) rose to $0.0870 before retreating to close at $0.0866, showing a bullish bias after breaking a key resistance.
• Volume surged during the late afternoon, confirming the strength of the breakout and aligning with rising prices.
• RSI approached overbought territory, suggesting potential pullback or consolidation, but momentum remains robust.
• Bollinger Bands showed a strong expansion during the rally, indicating increased volatility and active trading.
• A bullish engulfing pattern formed near the 0.0845–0.0850 support zone, reinforcing the case for further upward movement.

Cookie DAO/Tether (COOKIEUSDT) opened at $0.0826 on 2025-10-23 at 12:00 ET and reached a high of $0.0871 before closing at $0.0866 on 2025-10-24 at 12:00 ET. The 24-hour volume amounted to 5,253,962.9 units, with a notional turnover of $443,747.45, indicating heightened interest and activity.

On the 15-minute chart, the price formed a bullish engulfing pattern near $0.0845–0.0850, followed by a strong upward breakout confirming renewed buying interest. Key resistances were tested and broken, notably at $0.0860–0.0865 and $0.0870, with the latter briefly challenged but not closed above. Support levels at $0.0845–0.0847 appear to have held multiple times, suggesting they could serve as a buffer for any pullback.

Moving averages on the 15-minute chart showed the 20-period line crossing above the 50-period line, signaling short-term bullish momentum. The 50-period line remained above the 200-period, reinforcing the medium-term uptrend. In the daily chart, the 50/100/200-day MA lines are aligned in a bullish formation, indicating continuation of the broader trend.

MACD showed a positive crossover with a strong histogram, confirming the bullish momentum. RSI approached overbought territory (74–78), suggesting caution for near-term volatility or a potential pullback. Bollinger Bands displayed expansion during the breakout phase, with prices staying above the upper band for a short period, signaling strong volatility and conviction in the move higher. The price closed just below the upper band, indicating a possible pause for consolidation before the next move.

Fibonacci levels derived from the key 15-minute swing ($0.0841–$0.0870) indicated potential retracement zones at 61.8% ($0.0859) and 38.2% ($0.0865), both of which were recently tested or approached. On the daily chart, Fibonacci retracements from the prior bearish swing suggest a critical 61.8% level at $0.0875 may be the next key target.

Volume and turnover saw a significant increase during the late afternoon and evening ET, coinciding with the breakout above $0.0860. The price and volume aligned well during this phase, offering confirmation rather than divergence. However, as RSI approached overbought levels, a temporary pullback may occur if buyers fail to maintain pressure.

The backtest hypothesis centers on a breakout and trend-following strategy using the 15-minute chart's 20-period moving average crossover as a trigger. Given the current alignment of moving averages and the strong volume confirmation during the breakout, this setup suggests a high-probability trade. A backtest would need to evaluate whether entering long on a 20/50 MA crossover during confirmed volume surges (as seen during the 0.0860–0.0871 phase) yields consistent returns. Additional parameters such as stop-loss levels at the 61.8% Fibonacci retracement (0.0859) or the 38.2% level (0.0865) would help manage risk while capitalizing on the ongoing uptrend.