After the low from April, which aligned almost perfectly with the 2023 bottom, CAKE has shown remarkably constructive price action, steadily forming higher lows and repeatedly pressing against the $3 resistance zone.
Last week, the price finally broke above this major resistance and, in a textbook technical fashion, came back to retest the breakout level before rebounding strongly — confirming buyer commitment.
At the moment, CAKE trades around $3.5, holding well above the former resistance and showing signs of a potential upside continuation.
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Key Levels & Outlook
• Support: $3.0 (former resistance, now key support)
• Intermediate target: $5.0
• Extended target: $10.0 (if momentum and broader market sentiment remain strong)
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Trading Plan
My preferred strategy is to buy dips against the $3 level, aiming for $5 as a soft target, while keeping a runner for a potential test of $10 if the bullish momentum accelerates.
CAKE has proven resilience — now it’s time to see if it can turn this constructive structure into a sustained breakout.
Last week, the price finally broke above this major resistance and, in a textbook technical fashion, came back to retest the breakout level before rebounding strongly — confirming buyer commitment.
At the moment, CAKE trades around $3.5, holding well above the former resistance and showing signs of a potential upside continuation.
________________________________________
Key Levels & Outlook
• Support: $3.0 (former resistance, now key support)
• Intermediate target: $5.0
• Extended target: $10.0 (if momentum and broader market sentiment remain strong)
________________________________________
Trading Plan
My preferred strategy is to buy dips against the $3 level, aiming for $5 as a soft target, while keeping a runner for a potential test of $10 if the bullish momentum accelerates.
CAKE has proven resilience — now it’s time to see if it can turn this constructive structure into a sustained breakout.
Trade ist aktiv
#cake started to pump as expectedIf we clear this resistance, 10 should be the next stop
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🎯 Want More Trading Ideas?
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
📈 Join the FREE Forex & Gold Channel
👉 t.me/intradaytradingsignals
💎 Join the FREE Crypto Channel
👉 t.me/FanCryptocurrency
Verbundene Veröffentlichungen
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.