Cookie Cryptocurrency Faces Heavy Selling Pressure as Price Dips Slightly

In my view, the recent trading activity for COOKIEUSDT indicates a significant selling pressure, with an enormous amount of sell volume at approximately 85.19K ₮ compared to only 10.58K ₮ of buy volume within a 52-second window. The price has declined modestly by 0.3%, from 0.1513 to 0.1509, aligning with a slight 24-hour decrease of 1.241%. Over shorter time frames, the recent 4-hour period shows a sharper decline of over 4%, suggesting a downward momentum. Despite the 24-hour trading volume being relatively high at 7.426 million ₮, the buy and sell volumes are nearly balanced (51% buy versus 49% sell), signaling a potential level of equilibrium or possibly a shifting sentiment among traders. Still, the net volume has weakened substantially over the past 15 minutes, 1 hour, and 4 hours—down by 43%, 28%, and 12%, respectively—indicating that recent trading activity has become more subdued or that sellers are dominating in the short term. Overall, these mixed signals point toward a cautious outlook. The high sell volume amidst declining prices might suggest an ongoing downtrend or a period of consolidation before further price movement. Traders should be attentive to continued volume shifts, as they could herald either a potential rebound if buying resumes or further declines if selling pressure persists. Given these observations, I recommend a cautious approach. It could be prudent to wait for confirmation of a trend reversal or a surge in buy volume before entering a long position. If the decline accelerates, consider setting stop-loss levels to protect against further downside risk. Monitoring short-term volume patterns along with price action will be key to making informed trading decisions on COOKIEUSDT.