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
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.
📈 Forex & XAU/USD Channel:
t.me/intradaytradingsignals
💎 Crypto Channel:
t.me/FanCryptocurrency
Publicações relacionadas
Aviso legal
As informações e publicações não devem ser e não constituem conselhos ou recomendações financeiras, de investimento, de negociação ou de qualquer outro tipo, fornecidas ou endossadas pela TradingView. Leia mais em Termos de uso.