$CAKE /USDT – Are Buyers Losing Strength After the Pump? 🚨

Current Price: $2.745 (Up 14.81%)

$CAKE recently made a strong move upward but is now starting to slow down. The price reached a high of $2.94, but we’re now seeing red candles on lower timeframes, which suggests a possible short-term decline.

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🔽 Short Trade Idea (Bearish Setup):

• Entry Range: $2.77 – $2.80

• Take Profit Targets (TP):

• TP1: $2.72

• TP2: $2.66

• TP3: $2.60

• Stop Loss (SL): $2.85

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📊 Key Technical Levels:

• Resistance (Ceiling): $2.948 – recent 24-hour high

• Support (Floor): $2.394 – recent 24-hour low

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📉 Market Outlook:

• After a steep upward move (vertical pump), the market is showing signs of exhaustion.

• Wicks on candles are rejecting higher prices, showing that buyers are getting weaker.

• Sellers are slowly taking control, increasing the chances of a pullback or correction.

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💡 Pro Trading Tip:

• Watch for a retest of the $2.80 zone. If it holds and price drops, it may confirm a short setup.

• If price breaks below $2.75, that’s a bearish signal—it could trigger a deeper move toward the support levels.

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⚠️ Technical Notes:

• Bearish divergence might appear on RSI or MACD—check your indicators.

• Volume is key: decreasing volume on the pump could signal fading momentum.

• Use a tight SL to protect against false breakouts.

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Summary:

The rally may be losing steam. Short-term indicators show weakness. A retest and failure at $2.80 could offer a good shorting opportunity with multiple take-profit zones below.

Click to trade : $CAKE