Analysis of COOKIE/USDT Chart

1. Price & Trend:

Last Price: $0.1348

24h High: $0.1437

24h Low: $0.1333

Price is currently near the lower range of the 24-hour low, suggesting possible support.

2. Moving Averages:

MA(7): $0.1370 (Short-term trend)

MA(25): $0.1378 (Medium-term trend)

MA(99): $0.1343 (Long-term trend)

The price is below both the 7-period and 25-period moving averages, indicating a short-term bearish trend.

The 99-period MA ($0.1343) is near the current price, acting as support.

3. Relative Strength Index (RSI):

RSI(6): 30.89 (Near oversold zone)

RSI close to 30 suggests that the asset might be oversold and due for a potential bounce.

4. Volume & Momentum:

24h Volume: 79.94M COOKIE, 11.02M USDT

Recent selling pressure has pushed the price down, but the volume is moderate.

Trading Strategy

Given that the price is close to support at $0.1343 and RSI is near oversold levels, we may expect a short-term bounce. However, the overall trend remains bearish unless the price reclaims the 7MA and 25MA.

Long Position (Higher Risk)

Entry: $0.1345 - $0.1350 (Near support)

Take Profit (TP):

First TP: $0.1380 (Near 25MA)

Second TP: $0.1400 (Psychological level)

Stop Loss (SL): $0.1325 (Below support)

Short Position (Safer Option in Downtrend)

Entry: $0.1365 - $0.1375 (Near 7MA resistance)

Take Profit (TP):

First TP: $0.1340 (Retest of support)

Second TP: $0.1325 (Deeper correction)

Stop Loss (SL): $0.1390 (Above resistance)

Recommendation

If you want to go long, wait for confirmation of a bounce from support.

A short position near $0.1370 - $0.1375 is safer if the price rejects that level.

Watch for increased volume and RSI movement before entering.