Cookie Token faces a bearish trend but shows signs of possible recovery.
RSI indicates the token is in an oversold zone, signaling a reversal.
Market experts predict Cookie could surge in value, targeting higher price points.
As investors continue to venture into the wide crypto market, attention is once again directed to upcoming altcoins, which play significant roles in the industry by dispalying multiple choices of investment. Cookie (COOKIE) is a very good example and illustration, as according to coinmarketcap, the token has been trading at $0.02578 with a 1.26% decline over the past 24 hours. Furthermore, what seems to be more interesting is that the bearish momentum currently experienced by the token has affected it substantially in its market capitalization and trading volume.
Cookie Token Faces Slump: 17% Drop in Trading Volume Amid High Volatility
As of the press time, the market capitalization is currently valued at $2,195,968, which has decreased by 1.24% in the past 24 hours. This shows how investors have been incative in the token's market for quite some time. Digging down to the trading volume, the market has also seen a substantial slump in its pricing by 17.39% over the previous day, resulting in a price tag of $537,292. Despite being bearish all the way, price actions suggest high volatility is seen within the token's momentum.
Source: Coinmarketcap
Initially, Cookie staarted by trading $0.02611 before experiencing a major dip in the market, resulting in the price reaching $0.02494 after a few hours. This shows how flactuating market voilatilites are and how unpredictable the token's movement can be. Ranked at 1550 globally by market cap , the token continues to scale different heights and measurements.
Crypto Analyst Predicts Cookie Token Surge to $0.8 Amid RSI Oversold Signal
Cookie has appeared to be capturing the attention of both investors and market observers. A prominent crypto trader and market enthusiast posted on the X platform, showcasing how the coin's movement and track are expected to be. THE post is a presentation graphically of Cookie technical analysis showcasing how the 4-hour chart is expected to rise from a strong support level of $0.021 while targeting $0.04. Despite this , due to increased buyer interest and the ongoing major accumulation in the market, the coin stands a chance to hit a substantial growth to $0.1 in 24 hours.
The post has garnered 2,485 views on X, showing how investors and spectators have lingering curiosity prevailing about the token. The momentum built in the graphic representation suggests a potential breakout; suppose the bearish movement continues imminently.
https://twitter.com/crypto_mania3/status/1842242766111428745
The analyst even went on to do an illustration by drawing a line from at the end of the declining double trendline, which had a tag of 0.02191, and his anticipations are the price hitting $0.0800. Furthermore , the technical indicator RSI does not contradict the breakdown as it is at 37.5, which is an oversold area. RSI presents a potential price reversal; suppose the bearish momentum persists in the daily charts because it is in the oversold territory.
The post Crypto Analyst Predicts Major Cookie Token Growth Despite Bearish Trend appeared first on Crypto News Land.
