📉 $CAKE /USDT – Sideways Weakness Near Support

Price is currently at $2.643, down -3.54%. After bouncing from the day’s low at $2.572, CAKE is consolidating just below the midline of the Bollinger Bands ($2.650), suggesting weak buying momentum.

🔎 5-Min Chart Observations:

Price is flat near the middle Bollinger Band → no clear trend.

RSI(6): 36.38 → weak momentum, near oversold.

MACD and volume are both flat → no sign of strong reversal or breakout.

Bollinger Bands are narrowing → likely pre-breakout compression.

⚙️ Trade Setup

Entry Zone $2.60 – $2.63

Stop Loss Below $2.57 (24h low)

Take Profit 1 $2.72 (upper Bollinger)

Take Profit 2 $2.80 (24h high)

✅ Strategy Summary

Avoid chasing — prefer scalp entries on dips above $2.60.

Breakdown below $2.57 = bearish continuation risk.

Clear long signal only if price breaks and holds above $2.72 with strong volume.