Market Overview for Cookie DAO/Tether (COOKIEUSDT)

Summary
• Price declined from 0.0439 to 0.0408, forming bearish engulfing patterns in late hours.
• Volume surged above 2.1 million during the 19:15 ET candle, coinciding with a sharp price drop.
• RSI reached oversold territory near 25, suggesting potential near-term buying interest.
• Bollinger Bands showed a tightening contraction before the downward breakout.
• 20-period moving average on 5-min chart failed to hold key support levels.

Cookie DAO/Tether (COOKIEUSDT) opened at 0.0435 on 2025-12-17 at 12:00 ET, hitting a high of 0.0441 before closing at 0.0408 on 2025-12-18 at 12:00 ET, with a 24-hour low of 0.0407. Total volume was 14,188,919.1, and turnover amounted to 587.25 (volume × price).

Structure & Formations

Price action over the 24-hour period revealed bearish bias, with several bearish engulfing patterns forming as price broke below key intraday support levels. A strong sell-off occurred starting at 19:15 ET, where price fell 0.0006 in one candle. A potential support floor appears to be forming near 0.0408–0.0410, where price stabilized during the early morning hours.

Moving Averages and Momentum

The 20-period and 50-period moving averages on the 5-minute chart both failed to hold, reinforcing the bearish bias. RSI reached an oversold level of ~25 at 05:30 ET, suggesting a possible short-term rebound could be in the cards. MACD remained negative throughout the session but showed a slight narrowing of bearish momentum, hinting at potential exhaustion in the short-term sellers.

Volatility and Volume

Bollinger Bands showed a period of volatility contraction between 00:00 and 01:45 ET, followed by a sharp expansion as the sell-off began. This is a classic pre-breakout pattern, with the downside showing more aggressive momentum. Volume spiked to over 2.1 million during the 19:15 ET candle, confirming the bearish move. Turnover and volume moved in tandem, offering no divergence and suggesting the move was genuine.

Fibonacci and Key Levels

Applying Fibonacci retracement levels to the recent 5-minute swing from 0.0441 to 0.0407, the 61.8% level sits near 0.0415–0.0416, which held as a key resistance-turned-support zone. Price tested this area twice during the early morning hours and managed to stabilize, suggesting it may offer a near-term floor.

Market participants may see short-term buying interest around the 0.0412–0.0415 range, but a sustained close above 0.0418 could signal a deeper test of the 0.0420–0.0425 area. Investors should remain cautious of increased volatility and potential further downside in the next 24 hours.