$CAKE /USDT Analysis

CAKE is experiencing a strong bullish momentum, with a current price of $2.292 and a 7.16% increase.

Market Outlook

The token has recovered from the local low of $2.122, forming higher lows and bullish engulfing candles. The price is approaching the resistance level at $2.30.

Key Levels

1. *Resistance*: $2.297

2. *Support*: $2.200

3. *Breakout Level*: $2.300

Trade Setup

1. *Entry Zone*: $2.30-$2.36

2. *Take Profit Targets*:

- *TP1*: $2.40

- *TP2*: $2.41

3. *Stop Loss*: $2.18

Monitor the market closely for a potential breakout above the resistance level.

Good luck.