COOKIES Are About to Explode? Chart Breakdown & Bullish Momentum Incoming!
Hey community! Let's take a deep dive into the latest $COOKIE/USDT price action—and why things are starting to look very bullish for COOKIE holders.
Current Price: $0.1747
24H Gain: +13.07%
Volume: 118M COOKIE | $18.93M USDT
Timeframe Analyzed: Daily (1D)
We’re currently seeing a potential breakout pattern forming on the daily chart. The price has just broken out from a long-term descending resistance line, which had been acting as a ceiling since early February. What makes this significant?
Here’s the breakdown:
Falling Wedge Breakout: The chart shows a classic falling wedge pattern—known to be a bullish reversal pattern. After weeks of price compression and decreasing volume, we’re seeing a clear breakout to the upside.
Higher Lows Formation: Alongside the breakout, the price is forming higher lows. This upward sloping trendline shows accumulating buyer strength and renewed market confidence.
Volume Confirmation: We're also seeing increased volume during this move, supporting the breakout and reducing the likelihood of a fakeout.
Projected Move: Based on the wedge height, the projected move could take COOKIE up to the $0.30–$0.35 range if momentum continues. That’s nearly a 100% upside from current levels!
What to Watch Next:
A retest of the breakout zone around $0.165–$0.170. If this level holds as support, it could confirm the breakout and offer an excellent long opportunity.
Increased buying volume and bullish candles near trendline support.
Resistance at $0.20 and $0.25 before the big push toward $0.30+.
Final Thoughts:
This chart setup looks very promising for COOKIE. Of course, always manage your risk and keep an eye on market sentiment—crypto can be volatile! But with solid technical indicators and strong momentum building, COOKIE might be one sweet ride to the top!
Drop your thoughts below—are you buying the breakout or waiting for confirmation?
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