$CAKE DIPS FROM $2.77 — IS MORE DOWNSIDE COMING?
PancakeSwap (CAKE) is pulling back after a short-term rally, falling from its recent high of $2.771 to around $2.693, marking a loss of momentum as selling pressure picks up.
CAKE/USDT Short Trade Setup:
• Entry Zone: $2.70 – $2.74
• Stop Loss: $2.78
• Target 1 (TP1): $2.63
• Target 2 (TP2): $2.58
• Target 3 (TP3): $2.50
Trade Idea:
CAKE faced resistance at the $2.77 level and is now showing signs of a pullback. With strong volume (6.57M CAKE, 17.45M USDT) and a local low of $2.534, traders should watch if support at $2.63–$2.60 holds or breaks.
Bearish bias confirmed on 15m/30m charts. A break below $2.60 could trigger further downside toward $2.50 support.
