$COOKIE /USDT Perpetual Market Analysis: Short-Term Recovery Within a Broader Downtrend
The COOKIE/USDT perpetual pair is currently trading near 0.02342, showing a modest short-term recovery after a sharp sell-off that pushed price down to the 0.02160 low. This rebound reflects buying interest at demand levels, supported by a strong bullish candle that invalidated immediate downside momentum. On the 1-hour timeframe, price has reclaimed the 7-period and 25-period moving averages, indicating short-term bullish strength, while the 99-period moving average around the 0.02320–0.02330 zone remains a key dynamic resistance.
The recent rejection near 0.02372 highlights that sellers are still active at higher levels, suggesting the market is attempting to form a lower high within a broader bearish structure. Volume remains moderate, implying that the current upside move is more of a technical rebound rather than a confirmed trend reversal. As long as price holds above the 0.02300 support zone, continuation toward 0.02370–0.02420 remains possible.
However, from a wider perspective, COOKIE remains under significant long-term pressure, with heavy losses visible across weekly and monthly performance data. This indicates that rallies may face selling pressure unless strong volume expansion and higher-timeframe structure shifts occur. A failure to hold above 0.02300 could expose the pair to another retest of 0.02250 and potentially the 0.02160 support.
Overall, COOKIE/USDT is in a short-term recovery phase within a dominant downtrend, favoring cautious trading, tight risk management, and confirmation-based entries rather than aggressive long positioning.
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