Cookie Token Finds Floor at Critical Support—Bulls Still in Control
After a sharp correction, Cookie’s price has slammed into a major demand zone—the kind that makes traders lick their chops. This isn’t some flimsy retracement; we’re talking about a high-conviction area where buyers historically swarm.
Technical setup holds strong: The token’s bullish higher-low structure remains unbroken despite the pullback. No need for panic—unless you’re one of those leverage junkies who ignored risk management (again).
Funny how ’support zones’ always look obvious in hindsight—just like those hedge fund analysts who suddenly ’called the bottom’ after the fact. Price action doesn’t lie, though: Cookie’s primed for the next leg up if this level holds.
Key technical points
- $0.26 Key Support Level: This level is acting as a magnet due to historical structure and buyer interest.
- 200-Day Moving Average Support: Widely watched by market participants, the 200 MA adds strength to this level.
- 0.618 Fibonacci Confluence: Classic golden ratio retracement that often marks the end of corrective moves.
Cookie recently printed a swing high at $0.36 following a strong impulsive rally. This expansion phase followed a prolonged accumulation period, during which price steadily gained momentum with minimal pullbacks. A correction was expected, and it is now unfolding. Price has reversed sharply and is currently trading at a major technical support level that could serve as a launchpad for the next move.
What makes the $0.26 zone more significant is that it now functions as a potential bullish retest. In technical terms, a rounded retest involves price breaking above resistance, pulling back to it, and validating it as new support. If Cookie holds above this zone with solid volume, it WOULD confirm continued bullish intent and invalidate the potential for a deeper breakdown.
The next major area of interest lies just above the recent swing high at $0.39. A clean break and close above this level would not only confirm a new higher high but also suggest Cookie is ready for another leg up, potentially entering price discovery or targeting psychological round levels beyond $0.40.
What to expect in the coming price action
As long as Cookie holds the $0.26 support, the bullish market structure remains intact. A failure to hold this area may open the door to lower levels, but for now, the trend remains upward, especially if volume returns and momentum picks up. Traders should watch for a breakout above $0.36 to confirm the next bullish leg.
