$CAKE Sitting on Support: Breakdown Looms or Bounce Incoming?
CAKE is trading at $1.987, barely holding above local support after a -0.70% slip on the last 15m candle. Sellers have been pressing, but bids are slightly stronger (53.22% bid strength), suggesting a tug-of-war near this critical level.
Key Levels to Watch
• Resistance:
$2.010 – Nearest resistance
$2.030 – Recovery zone
$2.050 – Strong breakout level
• Support:
$1.980 – Immediate support floor
$1.965 – Breakdown trigger zone
$1.957 – 24H low and last line of defense
Trade Setup – High-Stakes Zone
• Bullish Entry:
A reclaim above $2.010 could spark a short-term reversal.
Target 1: $2.030
Target 2: $2.050
• Bearish Entry:
A drop below $1.980 would signal further weakness.
Target 1: $1.965
Target 2: $1.957
Stop-Loss Tip:
Use tight stops near $1.978 for bulls or $2.012 for bears to avoid whipsaws.
CAKE is balancing at support—wait for volume-backed confirmation to enter safely.