🔴 COOKIE/USDT: A Crumbling Chart – What’s Going Wrong? #COOKIE

🧐 Introduction

$COOKIE /USDT has plunged by -17.62%, now trading at $0.2759. With a 24-hour high of $0.3364 and a low of $0.2754, it seems the token is struggling to maintain market confidence.

📉 Technical Analysis

🔹 Bollinger Bands: The price is touching the lower band, signaling heightened bearish momentum.

🔹 Moving Averages: COOKIE remains significantly below both MA(5) and MA(10), showcasing continued weakness.

Support & Resistance Levels:

🟢 Support: $0.275

🔴 Resistance: $0.340

💭 What’s Causing the Drop?

Lack of Volume: The token’s volume is weak compared to previous levels, indicating low market interest.

Volatility: Erratic price movements could deter both long-term investors and short-term traders.

🔥 Community Concerns

Investors are questioning the sustainability of COOKIE, especially in the absence of clear development updates or roadmap progress. Could this project survive the harsh market conditions, or is this just the beginning of its fall?

🎯 Conclusion

While COOKIE still holds potential, its current performance raises serious concerns about its future. Traders should approach with caution and closely monitor market updates.

⚠ Disclaimer

This analysis is not financial advice. Always conduct your research before making investment decisions.

📢 Share your thoughts! What’s your take on COOKIE’s recent performance?