BAKE Technical Analysis in a 2-Day TimeframeHello everyone, I’m Cryptorphic.
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Now, let’s dive into this chart analysis:
BAKE is at the resistance trendline of $0.33 and is attempting to break out. The 50 EMA provides strong support for BAKE, and if it continues to hold, we could see a bullish move soon.
With 18 hours left for this 2-day candle to close, BAKE needs to close above the resistance trendline for a bullish reversal.
On the downside, if BAKE gets rejected, the 50 EMA serves as the first line of support, followed by the lower support range between $0.1653 and $0.2226.
Key levels:
- Resistance: $0.333
- Primary Support: 50 EMA ($0.2995)
- Lower Support: $0.1653 to $0.2226
- Target: $0.9062
DYOR, NFA.
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