♨️🚀Technical Analysis♨️🚀
Chart Pattern:
Symmetrical triangle breakout potential: There's a visible ascending triangle forming, which is typically a bullish pattern.
Price is currently at $1.9868, slightly below a significant resistance zone.
Key Resistance Zones:
$2.60 (Red Line): Strong resistance, previously rejected here.
$2.90 (Blue Line): Major resistance – price needs strong volume to break through.
Support Zone:
$1.92–$1.95 range acted as recent support.
Volume Profile:
There's a visible volume gap after $2.60, suggesting a possible fast move up if that level is broken.
Trend:
Higher lows are forming, showing accumulation.
RSI and momentum are not visible, but price action and volume suggest a bullish setup building.
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Fundamental Snapshot (as of recent):
PancakeSwap (CAKE) is still a leading DEX on BNB Chain but is facing fierce competition.
Tokenomics have changed with emissions reduced, making it more deflationary now.
Recent bullish catalyst includes integrations and incentives on v3.
CAKE’s long-term performance is still down, but it's recovering.
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Entry Recommendation:
Position: LONG (with confirmation)
Trigger entry above $2.05–$2.10 with volume.
SL: Below triangle base, around $1.89.
TP1: $2.60
TP2: $2.90
TP3: $3.50+ if breakout sustains
If it fails to break $2.05–$2.10 convincingly, avoid entering — the rejection would be a short signal back toward $1.80.
