Market Overview for Cookie DAO/Tether USDt (COOKIEUSDT)

• Price action shows a bearish bias after a strong intraday high at 0.1378 with a 24-hour low at 0.1302
• RSI and MACD suggest momentum is waning with overbought levels not sustained
• Volatility expanded notably around 0.1333–0.1345 levels, with volume confirming bearish pressure
• Bollinger Band contraction at 0.1335–0.1345 indicates a potential breakout ahead
• Fibonacci retracement levels at 0.1339 and 0.1347 are key to watch for short-term bounce or breakdown

The Cookie DAO/Tether USDt (COOKIEUSDT) pair opened at 0.1368 on 2025-09-10 at 12:00 ET and closed at 0.1315 on 2025-09-11 at 12:00 ET, with a high of 0.1378 and a low of 0.1302. Total traded volume was 14,249,654.7 and total turnover amounted to USD 1,884,742.3 (volume × price).

Structure & Formations

Key support levels are forming at 0.1332 and 0.1302, with 0.1324 and 0.1339 acting as intermediate resistance. A bearish engulfing pattern is visible from 0.1349 to 0.1333 during the early morning hours, indicating a shift in sentiment. A doji formed around 0.1335-0.1340 at 05:30–06:00 ET, suggesting indecision and potential consolidation ahead of a breakout.

Moving Averages

Short-term moving averages (20 and 50-period) on the 15-minute chart indicate a bearish crossover in the last 6 hours. On the daily chart, the 50-period MA is below both the 100 and 200-period MAs, reinforcing a medium-term bearish bias. Price is currently below both 20 and 50-period MAs, suggesting continued downward pressure could persist in the near term.

MACD & RSI

The MACD has crossed below its signal line, with a bearish divergence noted in the last three hours. RSI is currently in oversold territory (below 30), but failed to bounce off this level, suggesting further downside is likely. A failure to rebound above the 40-level could confirm a breakdown to the next support at 0.1302.

Bollinger Bands

The 20-period Bollinger Bands have recently widened, reflecting increased volatility, particularly during the 05:30–06:00 ET period. Price is currently near the lower band at 0.1315, which could trigger a short-term bounce. A sustained close above the middle band (0.1334) would suggest a reversal is in play.

Volume & Turnover

Volume and turnover spiked during the breakdown from 0.1345 to 0.1333, with a surge of 684,214.8 units at 17:00 ET. The subsequent breakdown below 0.1335 saw another large volume spike of 852,610.2 units, indicating strong bearish conviction. Divergence between volume and price appears minimal; volume has consistently confirmed bearish moves.

Fibonacci Retracements

Applying Fibonacci to the most recent 15-minute swing from 0.1378 to 0.1302, key retracement levels are 0.1342 (38.2%), 0.1332 (50%), and 0.1324 (61.8%). Price is currently near 0.1315, below the 61.8% level, which could suggest the 0.1302–0.1312 range is the immediate target. A break below 0.1302 would test deeper support zones not seen in the provided data.

Backtest Hypothesis

A potential backtesting strategy involves entering a short position on a bearish engulfing pattern confirmed by a close below the 50-period MA and a RSI below 40. A stop-loss could be placed above the most recent swing high, while a target would be the 61.8% Fibonacci level or the next identifiable support. The strategy appears to align with the observed behavior on the 15-minute chart and could be backtested using historical data to confirm reliability.