$COOKIE / USDT – Showing Signs of a Breakout Attempt! 🍪🚀
$COOKIE is currently trading at $0.1322, up by a decent +4.67%. The 4-hour chart shows the price testing resistance around the $0.1325 level after a period of consolidation.
Potential Scenario:
Observation: $COOKIE has been trading sideways for a bit and is now making an attempt to break above this resistance. A successful breakout could lead to further upward movement.
Possible Trade Considerations (Watch for Confirmation):
Entry: Consider potential entries on a confirmed break above $0.1325 with increasing volume. Alternatively, look for support to hold around $0.1310 for a potential bounce play if the breakout fails initially.
Target 1 (if breakout): $0.1350
Target 2 (if breakout): $0.1380
Final Target (if breakout): $0.1400+ (testing previous highs)
Stop Loss (if breakout entry): Place a stop-loss below the breakout level, perhaps around $0.1305.
Stop Loss (if bounce entry): Place a stop-loss below the $0.1310 support, perhaps around $0.1295.
Key Observation: The $0.1325 level is crucial. Monitor for strong buying volume on any attempt to break through it to confirm the breakout.
Remember to conduct your own thorough analysis before making any trading decisions. Hope you're having a good Monday afternoon!
