📌 Entry area:
🔹 $0.1650 - $0.1700
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🎯 Targets:
✅ Target 1: $0.1750
✅ Target 2: $0.1820
✅ Target 3: $0.1950
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🛑 Stop loss:
🔻 $0.1530
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📊 Technical analysis:
🔸 COOKIE rebounded strongly from the support area around $0.1530 after a continuous downward movement, recording an increase of nearly 14%.
🔸 The Relative Strength Index (RSI = 62.97) indicates upward momentum but has not yet reached the overbought area, leaving room for further increases.
🔸 The MACD is positive, with a clear bullish crossover between the signal line and the MACD line, supporting the continuation of the upward trend in the near term.
🔸 The MA(5) and MA(10) averages show a bullish crossover and support the continuation of the positive trend.
🔸 The most important resistance point currently at $0.1738, breaking it may pave the way to levels of $0.1820 then $0.1950.
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💡 Confirmation of the rise:
A strong breakout above $0.1750 with an increase in trading volume will enhance the chances of targeting a previous high at $0.2100.
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📢 Risk management:
✔️ Take a portion of profits at each target and gradually move the stop loss upwards.
✔️ Keeping the price above $0.1650 maintains positive momentum.
✔️ Breaking $0.1530 warns of a negative reversal and it's advised to exit.
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My technical opinion:
COOKIE shows a clear improvement in momentum, and the indicators support a bullish scenario provided that the nearby resistance is broken. Suitable for short-term speculation while closely monitoring the resistance.