Summary
• Cookie DAO/Tether formed bearish structure after sharp 5-minute sell-offs below 0.0420.
• Volume surged past 500,000 on rally to 0.0426, but momentum failed to confirm.
• RSI and MACD signaled overbought levels mid-day, followed by divergence.
• Bollinger Bands expanded with late-night volatility, price remains below 20-period MA.
Cookie DAO/Tether (COOKIEUSDT) opened at 0.0424 on 2026-01-12 12:00 ET and traded as low as 0.0409 before closing at 0.0426 on 2026-01-13 12:00 ET. The pair saw a high of 0.0426 and a 24-hour volume of 5,577,790.7 and turnover of 236,123.64.
Structure & Formations
The price action displayed several bearish structures, particularly between 0.0422 and 0.0418 during the early hours of the session. A strong engulfing bearish pattern occurred at 0.0418 on 2026-01-12 19:45 ET, followed by a breakdown that confirmed weak short-term sentiment. A potential support zone formed near 0.0410-0.0412, which was tested multiple times but failed to hold.
Moving Averages
On the 5-minute chart, the 20-period MA trended slightly bearish as price fell below the average for much of the session. The 50-period MA remained flat, indicating no strong directional bias in the short term.
On the daily chart, the 200-period MA sits at 0.0425, suggesting the current price may have approached a key psychological level.
MACD & RSI
The MACD line crossed below the signal line during the early morning hours, signaling bearish momentum, while RSI entered overbought territory (above 60) during a brief rally to 0.0426. However, the failure to maintain those levels led to an RSI divergence, suggesting waning bullish conviction.
Bollinger Bands
Bollinger Bands widened during the late-night sell-off, indicating rising volatility. By the morning, the price retested the upper band multiple times, failing to break above 0.0426. A potential contraction in the bands could emerge if the price stabilizes near the 0.0420-0.0422 range.
Volume & Turnover
Trading volume spiked above 600,000 at 0.0426 during the morning hours, coinciding with a sharp rally, but failed to sustain the move. Notional turnover followed a similar pattern, suggesting price and volume may have diverged as the rally lost steam.
Fibonacci Retracements
Applying Fibonacci retracement levels to the 0.0426 high and 0.0409 low shows 38.2% at 0.0419 and 61.8% at 0.0414. The price tested 0.0414 but bounced off, suggesting this level may offer short-term support.
Looking ahead, the price may test key support at 0.0410-0.0412 if the current consolidation fails to hold. Investors should remain cautious about potential volatility as price nears the 0.0425 MA on the daily chart. A breakout above 0.0426 could rekindle bullish momentum, but bearish continuation remains probable in the near term.
Comments
No comments yet