$CAKE /USDT Rises Nearly 8% — Approaching Resistance with DeFi Momentum
CAKE is trading at $2.745, gaining +7.99% in the last 24 hours, and is just shy of its daily high at $2.748. With strong trading volume (6.20M CAKE / $16.31M USDT), the move signals renewed interest in DeFi assets. Technically, CAKE is trading above all major moving averages:
MA(7): $2.622 (short-term bullish confirmation)
MA(25): $2.684 (price just reclaimed)
MA(99): $2.403 (long-term support base)
A breakout above $2.75 could lead to further gains toward $2.88–$3.00, while support rests at $2.68 and $2.62 in case of a pullback. The trend is bullish with upward momentum building — confirmation from MACD or RSI crossover on lower timeframes (1h/4h) would strengthen the breakout case.
