Where would CAKE go?
Since 2023, CAKE's lowest price has been $1.050. Entering the bull market, CAKE is in a bullish trend when viewed on a daily timeframe. However, some imbalances and demand areas need to be cleared before CAKE continues its bullish trend.
There are a few scenarios:
Of course, if the higher low at $1.552 is broken, the next support is $1.20.
Disclaimer: This is not a financial advice.
There are a few scenarios:
- CAKE will take out demand in the $1.908 - $2.022 area and continue its rally
- CAKE closes the imbalance and sweeps the demand area at $1.577 - $1.770 to resume its rally
- Bullish failure if price drops past $1.050
Of course, if the higher low at $1.552 is broken, the next support is $1.20.
Disclaimer: This is not a financial advice.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.