$CAKE #Cake 🍰 CAKE/USDT Spot Trading Analysis🍰
🎯 Trade Strategy
🟢 Bullish Breakout
Entry: $2.380-$2.390 (above EMA cluster)
Targets:
1) $2.450 (psychological level)
2) $2.563 (next resistance)
Stop: $2.350 (below recent swing)
📊 *Current Market Data*
- Price: $2.375 (+0.47%)
- 24H Range: $2.293 - $2.389
- Volume: 2.97M CAKE / $6.97M USDT
📈 *Technical Setup*
- EMAs in tight coil (7-day: $2.374, 25-day: $2.377)
- StochRSI at 31.23 (neutral territory)
- OBV mixed (-47M to +548M across timeframes)
- Critical support at $2.293, resistance at $2.389
🔴 *Bearish Scenario*
Trigger: Rejection at $2.389 + drop below $2.370
Targets: $2.293 → $2.197
Stop: $2.400
⚠️ *Key Considerations*
1. PancakeSwap v4 upgrades may impact price
2. Low liquidity - use limit orders
3. Watch Bitcoin's movement (CAKE-BTC correlation: 0.68)
💡 *Pro Tip:*
"Wait for 4H candle close above $2.390 for confirmation - false breakouts common in low-volume DeFi tokens"