Trading deal on currency $CAKE after a strong rise of +17.84%
Quick Analysis:
CAKE experienced a sharp increase from $2.39 to $2.948 in a few hours, with a significant trading volume exceeding 23 million CAKE, indicating strong buying momentum and a clear vertical breakout.
Trade Levels:
• Entry Area: between $2.80 – $2.88 (current price 2.893, just above the entry area)
• Profit Targets:
• TP1: $2.98 (very close – testing the recent peak)
• TP2: $3.10 (psychological resistance + logical extension of the move)
• TP3: $3.25 (expanded target if momentum continues)
• Stop Loss: below $2.74 (breaking the nearby support and invalidating the positive pattern)
Notes:
• Continuing to trade above $2.80 confirms the persistence of positive momentum.
• Watch liquidity: any sudden drop in volume with reversal candles may signal a correction.
Registration link for Binance:
https://www.binance.com/join?ref=99694898
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