$CAKE is currently trading at 2.234 USDT, positioned within a neutral market structure as it hovers near the support level of 2.154 USDT and resistance at 2.317 USDT. The RSI at 49.77 indicates room for movement. A breakout trading strategy could be optimal if it surpasses 2.317 USDT, while a pullback near support offers a lower-risk entry. Potential risks include market volatility influenced by Bitcoin's price actions and macroeconomic developments, warranting cautious positioning.
