$CAKE / USDT ā Sweet Gains! Can It Rise to the Next Level? š°š
$CAKE / USDT is currently trading around $2.112 on Binance, showing a tasty positive move of over 5.5%! Let's see if this DeFi treat has more layers to unfold.
Key Observations:
* Steady upward movement with consecutive green candles on the 4-hour chart.
* Approaching the resistance level around $2.120 - $2.130.
* Trading volume appears to be increasing.
Potential Scenarios:
* Breakout Attempt: If $CAKE can decisively break and hold above the $2.130 resistance with strong volume, we could see a push towards the $2.150 - $2.166 (24h High) zone.
* Consolidation at Resistance: We might see a brief period of consolidation just below this level before a potential breakout attempt.
* Possible Retracement: Failure to break through $2.130 could lead to a pullback towards the $2.100 support level.
Key Levels to Watch:
* Resistance: $2.120 - $2.130 zone, $2.150, $2.166 (24h High).
* Support: $2.100, $2.080.
Remember to always trade responsibly and conduct your own thorough research before making any trading decisions. Keep a close eye on that resistance zone ā let's see if CAKE can bake up some more gains!
