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CAKEUSDT trade ideas

🔥 RIP CAKE: Going To Zero?CAKE has been dumping very hard over the past couple of days. Where the market has seen a big bullish move, CAKE completely ignored it and continued going down. Why you ask? It has to do with a token unlock. Investors got their hands on 52-week staked tokens and sold them on the open market. Apart from the terrible looking technicals, the idea behind this unlimited supply (inflationary) token just doesn't perform well in bearish market conditions. If we will not see some kind of bounce from the June 2022 lows, I don't see any reason to be bullish on CAKE in the foreseeable future. In addition, we have to consider the fact that CAKE might have had it's peak and will slowly bleed to zero over time (which is not uncommon in crypto). Is this token going to die? Reversal when? Share your thoughts on CAKE🙏.
Short
by FieryTrading
11
CAKEUSDT Elliott Waves AnalysisHello friends. Please support my work by clicking the LIKE button👍(If you liked). Also i will appreciate for ur activity. Thank you! Everything on the chart. (update) Earlier first target was reached(4.5), stop already in breakeven 3.4 Next targets: 5 - 5.5 - 6.2 Stop: (depending of ur risk). ALWAYS follow ur RM . risk is justified Good luck everyone! Follow me on TRADINGView, if you don't want to miss my next analysis or signals. It's not financial advice. Dont Forget, always make your own research before to trade my ideas! Open to any questions and suggestions.
Long
by trytofeelpositive
2
What’s in Market about #PancakeswapCake/USDT Chart Analysis: Is It Time to Buy? Cake (CAKE) is a popular cryptocurrency that has been in the news lately due to its recent price movements. The coin has been experiencing pressure as investors are selling following the unlocking of tokens. This article will provide a detailed chart analysis of Cake/USDT and explore whether it is a good time to buy. Chart Analysis: As per the chart, Cake is currently trading at handle support. If it can hold this support, we can see an upward rally. However, it is recommended to wait for the market negative sentiments to settle before entering the market. If you decide to enter, the suggested buy level is around $2.5-$2.7. The pattern observed is a cup and handle pattern, which suggests that there is potential for the coin to increase in value. Long-term Targets: In the long term, Cake has significant potential for growth. The targets for Cake/USDT are $4.6, HKEX:8 , HKEX:12 , and $20. These targets are based on the analysis of the cup and handle pattern observed in the chart. Stop Loss: It is important to have a stop loss in place to minimize losses. If any daily candle closes below $2.30, it is recommended to exit the market to prevent further losses. Market News: Recent market news indicates that Cake has unlocked tokens, and investors are selling due to the broken promise of 200% staking reward, which was reduced to 46% after two months. This situation has created pressure on the coin, leading to a decrease in value. Takeaways: Cake is currently trading at handle support, and if it holds this support, an upward rally can be expected. The pattern observed is a cup and handle pattern, suggesting that the coin has potential for growth. The suggested buy level is around $2.5-$2.7. The long-term targets for Cake/USDT are $4.6, HKEX:8 , HKEX:12 , and $20. It is important to have a stop loss in place to minimize losses. Recent market news indicates that Cake has unlocked tokens, and investors are selling due to the broken promise of 200% staking reward. Conclusion: Cake/USDT is a cryptocurrency that has shown potential for growth in the long term. The current chart analysis suggests that it is a good time to buy, provided the coin holds the handle support. However, recent market news indicates that there is pressure on the coin due to the unlocking of tokens and broken promises. It is recommended to do your research, invest wisely, and always have a stop loss in place to minimize losses. Follow us for more Quality Content. Thank you.
by CryptoPatel
5
CAKEUSDTHow do you do dear followers, *Mars Signals Team wishes you high profits* This is a one-day-time frame analysis for CAKEUSDT Here we see R2 and R1 as our resistance areas that demonstrate the price was not able to rise at different points. S1 is a long-term support area at the bottom of this chart that has the well support of price in it. As we see, the support of price at S1 in the past made a great increase for it up to R2. But aftr some rejections by this line, the price was able to be supported at our 4-hour support line (the white line) and then it lost the support and faced a sveres decline toward S1. Presently, we have the price fluctuating in S1 area and by the we expect it to have a little fall to the bottom of this area. Then by providing us some confirmation candles for the purpose of a rise, it would face an increase up to higher amounts. When the price is on the rise at S1, it is suggested to put your trade order and enter trading. Please do not forget to wait for some signs such as confirmation candles in order to make sure of what will be your next movement and then act wisely. We suggest you to put your stop-loss point based on your amount of loss that you can risk at and try to experience more logical trades. Warning: This is just a suggestion and we do not guarantee profits. We advise you to analyze the chart before opening any positions. Wish you the best
by MarsSignals
CAKEUSDTDisclaimer High Risk Investment Trading cryptocurrencies and Forex carries a high level of risk, and may not be suitable for all investors. Before deciding to trade cryptocurrency you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with cryptocurrency and Forex trading, and seek advice from an independent financial advisor. Since Any opinions, news, research, analyses, prices, or other information contained on this website is provided as general market commentary, and does not constitute investment advice. The Bibres will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. All opinions expressed are owned by the respective writer and should never be considered as advice in any form. A qualified professional should be consulted before making any financial decisions. -----------------------------------
Long
by TraderBibres2003