๐ Technical Analysis โ $CAKE / USDT (Daily Chart)
๐น Current Status
PancakeSwap ($CAKE) is trading around $2.37 after breaking below the uptrend thatโs been intact since February. This breakdown shows weakness, with momentum fading and a pattern of lower highs forming.
The RSI is at 39, sitting in bearish territory, which highlights seller control. However, itโs also nearing oversold levels, suggesting the chance of a short-term bounce.
๐น Scenarios to Watch
โข Bearish Case: If $CAKE CAKE fails to climb back above the broken trendline ($2.50โ$2.55), the decline could extend toward:
โข $2.20 (key support).
โข $2.00 (major psychological and historical support).
โข Bullish Case: If buyers manage to reclaim $2.55 and hold above it, upside momentum may return, targeting:
โข $2.80 (near resistance).
โข $3.00 (major resistance zone).
๐น Trading Plan
โข Entry Zone: $2.25 โ $2.30
โข Stop Loss: $2.10
โข DCA Range: $2.25 โ $2.15
โข Targets (TP): $2.80 and $3.00
โข Risk-Reward: Attractive if support levels hold.
