CAKEUSDT UPDATECAKEUSDT is a cryptocurrency trading at $21.85. Its target price is $3.500 is likely incorrect, as it would be a significant price drop. However, assuming the target price is actually higher, a more plausible target would be around $39.41, indicating a potential 80%+ gain. The pattern is a Bullish Falling Wedge, a reversal pattern signaling a trend change. This pattern suggests the downward trend may be ending. A breakout from the wedge could lead to a strong upward move. The Bullish Falling Wedge is a positive signal, indicating a potential price surge. Investors are optimistic about CAKEUSDT's future performance. The current price may be a buying opportunity. Reaching the target price would result in significant returns.
CAKEUSDT trade ideas
CAKEUSDT Falling Pattern Setup with 100%-150% Potential Gains CAKEUSDT has recently formed a Falling Pattern, a chart formation that typically signals a period of consolidation or potential reversal. This pattern is often seen in markets that are in the process of finding a bottom before making a sharp upward move. For CAKEUSDT, the pattern is accompanied by good volume, which indicates that there is solid market interest and a buildup of potential for a breakout. With a projected gain range of 100% to 150% or more, traders are watching this pair closely, hoping to capitalize on what could be a significant upward move once the price breaks out of the pattern's resistance.
The Falling Pattern typically shows a series of lower highs and lower lows, followed by a potential breakout when the price moves through the key resistance level. The increasing volume during this phase suggests that buyers are starting to take control, positioning themselves for a potential rally. Investors are growing more interested in CAKEUSDT as it shows signs of bottoming out and setting up for an explosive upward movement. If this pattern follows through, traders could see substantial returns as the price looks to reclaim its previous highs.
As with all chart patterns, the success of the Falling Pattern in CAKEUSDT depends on several factors, including broader market conditions and the overall sentiment in the crypto space. However, the good volume backing this pattern suggests a higher likelihood of a strong reversal. If CAKEUSDT can break above the resistance formed by the Falling Pattern, the next phase could be a sharp rally, potentially pushing the price higher and providing traders with significant profit opportunities.
Traders should remain cautious and monitor key support and resistance levels to make informed decisions as the price action unfolds. If the market continues to favor bullish momentum, CAKEUSDT could experience a strong breakout that leads to notable gains. Given the current technical setup and investor interest, this pair could be one to watch closely in the coming days or weeks for those looking to capitalize on the next big move.
Pancake Swap (Cake): Forming BoS, Might Pump 15%Cake coin has the potential to form another break of structure (which we are forming currently), which would result in a movement of 15%. EMAs are the major target here but we are also keeping attention at that CME gap!
More in-depth info is in the videoโenjoy!
Swallow Team
Pancake Swap (CAKE): Price at Crucial Support Zone!!Pancake swap coin seems about to bounce toward the unfilled CME gap.
As price has fallen back to the support zone and we see some buying volume is building up there, we are seeing possibilities of pushing from here, but we wait for further confirmations.
On the other hand, if we see sellers dominance near the local support zone, then we will go for a free fall of 10-15%.
Swallow Team
Pancake Coin (CAKE): Possible Smaller Bullish Movement To HappenPancake coin seems to head toward the smaller upper resistance zone where we are looking for the next stop to be at $2.9 (which is 15% away from the current price).
This small push would be an ideal target after a successful MSB we formed in smaller timeframes, so let's see how we end up here!
Swallow Team
CAKE picking up from the dustNot much to say here, want to highlight two points. Price is being attracted to huge FGV areas created by panic sell-offs, the second, massive sell orders at 1,2usd indicate overleveraged positions were closed by margin calls removing possible sell-offs later at higher prices.
Cake fell much more than other coins, hope we can pickup soon as the platform is one of the best if not the best defi in my honest opinion.
Idea will be invalidated at strong 2usd price pushback.
Cake demand/supply resistanceCake is approaching the nearest resistance level around 2usd, needs to be broken and become support so wait for break out and then one leg down to settle down at this support. Market conditions positive, altseason outlook promising. Keep in mind price below this demand zone, below 1,8usd can trigger depression and sell-off. For now holds steady even btc dropping as this coin suffered a lot sell-offs recently.
CAKE correction phase is over#CAKE made a clear ABC pattern as its correction and now its going to rise
in my last analysis on this coin it was clearly
in higher time frames we have a nice pattern in weekly maybe the market would not reach the top line of the channel but if it reaches the middle thats a real huge profit !
Cake supply/demand zones with volumeCake touched the nearest demand zone and bounced back as BTC sell-off was intensive but short. Might be re-visiting this zone and even lover to 1.664. All depends on the general market condition and mood. The altcoin season is slowly approaching. This time it takes BTC dominance to climb higher much longer due to competitors among alts and general world economy condition. During alt season might be surprisingly outperforming competitors but it will not last long. This coin is still not made for long-term holding rather for short-term trading. Lower highs and higher lows are narrowing the corridor for upside breakout with strong potential.
CAKE 7$?For #CAKE on the weekly timeframe, if we want to see an upward move, the price needs to bounce back from these current levels.
If the price drops below $1.40, the structure of this asset could turn bearish. For the long term, I think a target of $7 seems reasonable.
This is just my personal view, not financial advice.
CAKE on the way upCake just entered the tiny buy channel crossing 2.17usd with several local bearish targets on the way back to 4.5usd.
As you see on the chart the sell-off from the previous local top 4.5usd was mainly caused by panic sellers/whales, there are 8 fair value gaps (red squares) going down from 4.5usd whereas the growth to 4.5usd counts only 2 (green squares)! FVG (fair value gap) acts as a magnet in both directions, which means the red ones attract the price from below levels up and the green ones from upper levels down. In other words, if the price was unnaturally pushed down, it can jump the same way up and vice versa.
The price was pushed down significantly which may be an opportunity.
CAKE discount zone on 4hCAKE has been under sell pressure since ATH. Overcame several changes and finally became deflationary but of course, it takes time to gain the users' trust and boost the adoption.
The discount zone at 4h says it all. Strong support at 2usd. Undervalued number 1 bnb chain defi which is now deflationary.
Price approaching Weekly and Monthly lows with V4 coming this is a good opportunity to jump in for the incoming altcoin season.
Cake 70% profitFrom the data provided, CAKE's price has shown significant volatility. Starting around 2.027 in January, it surged to 3, indicating a strong bullish trend ๐. However, it later corrected to around 2.110, suggesting a potential support level ๐.
The signals in the chart hint at a possible buying opportunity at support levels, especially if the price holds above 2.110 ๐. If it drops below this level, it might indicate a continued downward trend ๐.
Given the high volatility, traders should exercise caution and use risk management tools like stop-loss orders ๐ก๏ธ. Staying updated with market news and developments can also aid in making informed trading decisions ๐ฐ๐ก.
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:
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.
Pancake Swap (CAKE): Possible Fill of Imbalanced Zones!Cake Coin did a nice breakout recently where we had left some imbalance zones.
We are keeping our attention on the recent re-test, which was a result of the bigger liquidation movement we had bringing the price back right after filling the FVG zone.
Although we believe the price will reach it's ATHs soon, on a smaller timeframe we might see some further moves to lower zones IF we do not manage to get back and recover the recent drop we had!
Swallow Team