$CAKE /USDT

🧁 CAKE/USDT Trade setup

MetricValueCurrent Price$2.11 (-3.21%)24h High$2.20624h Low$2.108 (just tested)24h Vol (CAKE)2.44M24h Vol (USDT)$5.27MExchangeBinance

📉 Key Price Zones (Order Book Depth)

TypePrice RangeSignificance🔼 Resistance 1$2.131 – $2.161Minor sell zone, possibly retested soon🔼 Resistance 2$2.191 – $2.244Main ceiling near 24h high🔽 Support 1$2.108 – $2.101Critical intraday support zone🔽 Support 2Below $2.10If broken, next likely floor ~$2.06–$2.00

🔍 Technical Notes

✅ Price is sitting right above 24h low ($2.108) — this is a make-or-break level for short-term bulls.

🔄 Volume is moderate, indicating healthy participation, but not yet favoring reversal.

🔻 Downward pressure of -3.21% shows market hesitation near the bottom of the current range.

📊 Trend Bias

IndicatorStatus🔻 Short-Term TrendBearish-to-neutral🔄 MomentumWeak, potential for small bounce⚠️ Volatility OutlookIncreasing (tight range near support)

🧭 Strategic Insight

If you're trading:

Bounce Scenario: Entry > $2.13, with target near $2.20–$2.24 and stop < $2.10.

Breakdown Scenario: If $2.10 fails, expect move toward $2.00 or $1.98.

If you're holding:

Monitor $2.10–$2.08 closely. A decisive close below $2.10 on the 4h or daily chart could signal deeper correction.

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