🔍 CAKE Analysis – RSI Near Oversold, Support Holds 🔍
🍰 CAKE, a DeFi token, is currently down 3.05% and hovering near its 4H support zone. The setup shows signs of exhaustion, but traders are watching for a potential bounce from oversold conditions.
📈 Technical Analysis
- Short-term trend: Bearish
- Support: $2.529
- Resistance: $2.683
- Pattern: Downtrend with lower highs
- Volume: 108K – relatively low, confirming weak momentum
- RSI(6): 32.10 – nearing oversold territory
- MA(5): 696K vs MA(10): 634K – short-term MA still above
- Outlook: Bearish
📰 Market Data & News
- Price: $2.574 (−3.05%)
- No major news or listings reported
🔄 Scenario Breakdown
- Bullish Case: Bounce from $2.529 with RSI recovery above 40
- Bearish Case: Breakdown below $2.529 confirms continuation toward $2.48
📊 Sentiment Meter
📉 Bearish Bias – Sellers in control, weak volume
⚠️ Risk Level
🟡 Medium – Bearish trend but RSI suggests possible bounce
Will CAKE defend $2.529 or dip further into bearish territory? Drop your take below 👇
📉 Strategy deployed. Click the chart and follow the technical roadmap. Every move is backed by data—let’s trade smart. 📢 Like, Follow & Share to amplify informed trading.
📢 Not financial advice. Use this analysis as a learning tool, not a trading signal. DYOR and manage your risk.
CAKE #TheCryptoMalik