In my previous CAKE analysis, I mentioned that the coin could rise to at least 5 USD, following a breakout above the 1.5-year accumulation resistance.
That projection worked well, with CAKE reaching a high around 4.5 USD before entering what initially looked like a normal correction. However, Friday’s massive liquidation event turned that pullback into a sharp drop.
Yet, unlike many other altcoins that are still trading below their broken supports, CAKE showed an impressive recovery, quickly reclaiming the lost level. This kind of V-shaped recovery often signals strong underlying bullish pressure and confident buyers.
Technical outlook:
• Bias: Bullish again
• Key support: 3.00 USD (as long as price holds above, trend remains constructive)
• Target zone: 5.00 USD
• Strategy: Look for entry points near 3.00 USD or during healthy dips above that level
Momentum has shifted back to the bulls, and as long as 3 USD holds, the path of least resistance remains upward. 🚀
That projection worked well, with CAKE reaching a high around 4.5 USD before entering what initially looked like a normal correction. However, Friday’s massive liquidation event turned that pullback into a sharp drop.
Yet, unlike many other altcoins that are still trading below their broken supports, CAKE showed an impressive recovery, quickly reclaiming the lost level. This kind of V-shaped recovery often signals strong underlying bullish pressure and confident buyers.
Technical outlook:
• Bias: Bullish again
• Key support: 3.00 USD (as long as price holds above, trend remains constructive)
• Target zone: 5.00 USD
• Strategy: Look for entry points near 3.00 USD or during healthy dips above that level
Momentum has shifted back to the bulls, and as long as 3 USD holds, the path of least resistance remains upward. 🚀
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
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📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Powiązane publikacje
Wyłączenie odpowiedzialności
Informacje i publikacje przygotowane przez TradingView lub jego użytkowników, prezentowane na tej stronie, nie stanowią rekomendacji ani porad handlowych, inwestycyjnych i finansowych i nie powinny być w ten sposób traktowane ani wykorzystywane. Więcej informacji na ten temat znajdziesz w naszym Regulaminie.