Cookie Eyes Reversal as Key Support HoldsAfter a recent correction, Cookie (COOKIE) is showing signs of strength at a key technical level. This region—backed by multiple indicators—has acted as a solid support base, allowing for a potential trend reversal. If price can hold this zone in the coming days, it opens the door for a bullish breakout, with targets set at $0.25 and then $0.30.
Detailed Analysis:
Cookie recently pulled back into a crucial technical zone that combines the daily horizontal support, the 200 MA, and the golden pocket of the recent move—the 0.618 Fibonacci level. This region has so far acted as a springboard, with price action beginning to base out and show signs of accumulation.
From a structure perspective, this could mark the beginning of a higher low formation—an early signal that bulls are defending this level. While volume remains moderate, the lack of a breakdown from this zone suggests selling pressure may be waning.
A clean hold above this support base would set the stage for a bullish expansion phase. The first upside target lies around $0.25, where prior resistance sits. A reclaim and flip of that level could lead to a continued rally toward the psychological and technical resistance at $0.30.
If Cookie maintains support and breaks short-term resistance with volume confirmation, the probability of a move to $0.25 and then $0.30 increases significantly. However, losing this support could invalidate the bullish outlook and lead to further consolidation.
