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COOKIE Breaks Resistance, Establishing New Support Amidst High Trading Volume
COOKIE establishes support after breaking resistance with high trading volume.
Price projections indicate a possible 333% surge above $1.00.
Sustained buying pressure could reinforce support for further movement.
COOKIE, the governance token of Cookie DAO, has broken through a significant resistance level. Following this move, the price appears to be establishing support at the previous resistance zone. The breakout was accompanied by strong trading volume, indicating increased market participation. This movement suggests a shift in market sentiment as traders respond to the changing price structure.
Measured Move Indicates Potential Upside
Javon Marks's analysis shows a breakout above a descending trendline, followed by a price surge to a peak. The price was retraced but found to support near a previous resistance level, holding steady
Source: Javon Marks
Trading volume spiked during the breakout and declined during consolidation. The observation indicates a potential continuation toward the next resistance zone, with price stabilizing above key support.
Market data shows that the measured movement of $COOKIE could extend further. Based on price projections, the token’s next potential level points toward a move exceeding 333%. This scenario places COOKIE above the $1.00 mark if the momentum continues. The current price structure aligns with previous patterns where assets consolidate before extending upward.
Trading Volume Supports Price Stability
The breakout occurred with a surge in positive trading volume, which suggests active market engagement. Increased volume at critical price points often reinforces price movements, reducing the likelihood of immediate reversals. If the trading activity remains high, the newly formed support level could hold firm. This would provide a foundation for further price action.
With this development, market participants are closely monitoring COOKIE’s ability to maintain its new support level. The strength of the current trend will depend on whether buying pressure sustains the price above the breakout zone. If this structure remains intact, the token could move toward its projected target.
The post COOKIE Breaks Resistance, Establishing New Support Amidst High Trading Volume appears on Crypto Front News. Visit our website to read more interesting articles about cryptocurrency, blockchain technology, and digital assets.