CoinInsight360.com logo CoinInsight360.com logo
America's Social Casino

crypto.news 2025-06-06 17:33:39

Cookie crypto price crumbling? Support holding firm at key level

Cookie is currently retesting a pivotal support level with strong technical confluence. Despite declining volume, the bullish structure remains intact—raising the odds of a potential rally toward $0.30. Cookie ( COOKIE ) is trading at a decisive technical level that could determine its next major move. What was once firm resistance has now flipped into support, providing a potential foundation for bullish continuation. This zone aligns with both the 200 moving average and the 0.618 Fibonacci retracement, making it a critical test of market strength. Key technical points: Support Flip: Previous resistance has now flipped to support, showing early signs of validation. Technical Confluence: The 200 moving average and the 0.618 Fibonacci level align with this support zone. Bullish Market Structure: Cookie maintains a series of higher highs and higher lows. Volume Decline: The recent pullback came on decreasing volume, indicating a potential correction rather than trend reversal. Upside Target: A successful reversal could see price reach high time frame resistance at $0.30. CookieUSDT (4H) Chart, Source: TradingView Price action on Cookie is now testing a former resistance zone that had repeatedly capped upward moves. Following the latest pullback, this area has turned into support, creating a compelling case for a bullish retest. The fact that it coincides with both the 200 MA and the 0.618 Fibonacci level adds significant technical weight. You might also like: Top 3 reasons why the crypto market is down today Importantly, the overall trend remains bullish. Despite recent corrective movement, Cookie has maintained its pattern of higher highs and higher lows. The pullback itself occurred on declining volume, behavior that often characterizes healthy retracements within broader uptrends. This suggests the current move is more likely a pause than a breakdown. For the bullish scenario to unfold, a rise in volume will be crucial. Volume confirmation would indicate renewed demand and could serve as the catalyst for a breakout. The next major target sits at $0.30, a high time frame resistance level that may act as a magnet if momentum builds. What to expect in the coming price action If Cookie holds this key support and volume begins to rise, it sets the stage for a push toward $0.30. Traders should monitor volume closely, its behavior will likely determine the strength of any upside move. Read more: Ethereum forecast suggests rally to $10k, new DeFi coin poised to soar alongside Tron

Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta