Crypto analyst Altcoin Sherpa has identified COOKIE as one of several altcoins currently hovering at critical price levels, with potential for either a weak rebound or a more substantial breakout.
He highlights $0.2193 (the 0.5 retracement level) as a pivotal zone. In his tweet, Sherpa notes that the asset has already posted a lower high, suggesting the recent bounce might have been short-lived.
However, he also leaves room for the possibility of a more significant rally—though still potentially forming a lower high structure.
The dual path projection—green for bullish continuation and red for bearish rejection—shows two possible scenarios:
- Bullish Path: A rebound from the 0.5–0.618 zone could ignite upward momentum toward resistance near $0.30 and potentially beyond.
- Bearish Path: Failure to hold this support may trigger a drop toward the 0.618 ($0.1842) or even the 0.786 retracement level ($0.1342).
Sherpa underscores that COOKIE’s direction will largely depend on Bitcoin’s broader market behavior, stating: “Really going to be dependent on BTC imo.”
With volume slightly increasing and the price testing a key demand zone, traders are watching closely to see if $COOKIE will confirm this as a launchpad—or break down further.
Key Levels to Watch:
- Support: $0.2193 (0.5 fib), $0.1842 (0.618 fib)
- Resistance: $0.2544 (0.382 fib), $0.2978 (0.236 fib)
As BTC sets the tone, altcoins like COOKIE remain vulnerable to swift sentiment shifts—making this a decisive moment for speculative plays.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/market/small-altcoin-just-entered-the-decision-zone-massive-move-incoming/