$CAKE Faces a Massive Short Liquidation.
A total of $7.47K in short liquidations just got wiped out at $2.742. Could this trigger a bigger move? Bulls are gaining momentum, and shorts are in danger!
đ Will CAKE break resistance and surge higher? Or will bears fight back? Letâs dive into the analysis.
$CAKE Technical Analysis
Buy Zone:
$2.60 - $2.72 (Ideal accumulation range for a potential breakout)
Target Levels:
Target 1: $2.85
Target 2: $3.05
Target 3: $3.25 (Major resistance)
Stop Loss:
Below $2.55 (If this breaks, expect further downside)
Market Outlook:
Short liquidations indicate forced buying pressure, pushing the price up.
If $CAKE holds above $2.72, bulls could take control.
A breakout above $2.85 could trigger a stronger rally towards $3.05 and beyond.
Stay alert. If bulls maintain pressure, bears might get wrecked further!
