CAKE is showing strong signs of a potential long-term breakout after consolidating inside a symmetrical triangle pattern for nearly two years. The price recently broke above the mid-term resistance trendline, supported by increasing volume and a solid weekly close above the 50 and 100-week moving averages.
Technical Highlights:
🔷 Pattern: Symmetrical triangle formation in the weekly chart
🔷 Trend Confirmation: Price reclaiming above 50 and 100 EMA
🔷 Volume Profile: Strong accumulation between $1.8–$2.5 zone (visible on VPVR)
Target Zone
🟢 TP 1: $8.00 – $9.00
🟢 TP 2: $12.00 – $14.00
🟢 TP 3: $20.00 – $23.00
Bullish – Breakout confirmation on higher timeframes could initiate a strong mid-term rally toward TP2–TP3 levels.
Cheers
Hexa
Disclaimer:
This analysis is for educational purposes only and not financial advice. Always DYOR and manage risk responsibly.
Technical Highlights:
🔷 Pattern: Symmetrical triangle formation in the weekly chart
🔷 Trend Confirmation: Price reclaiming above 50 and 100 EMA
🔷 Volume Profile: Strong accumulation between $1.8–$2.5 zone (visible on VPVR)
Target Zone
🟢 TP 1: $8.00 – $9.00
🟢 TP 2: $12.00 – $14.00
🟢 TP 3: $20.00 – $23.00
Bullish – Breakout confirmation on higher timeframes could initiate a strong mid-term rally toward TP2–TP3 levels.
Cheers
Hexa
Disclaimer:
This analysis is for educational purposes only and not financial advice. Always DYOR and manage risk responsibly.
🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
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🚀Telegram : t.me/hexatrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
🌐Website: hexatrades.io/
🗣️Twitter(X): twitter.com/HexaTrades
Publikasi terkait
Pernyataan Penyangkalan
Informasi dan publikasi ini tidak dimaksudkan, dan bukan merupakan, saran atau rekomendasi keuangan, investasi, trading, atau jenis lainnya yang diberikan atau didukung oleh TradingView. Baca selengkapnya di Ketentuan Penggunaan.