$CAKE bounced from $2.45 support and reclaimed $2.57 š„
Bullish flag forming on 4H ā breakout above $2.58 could target $2.68ā$2.80!
š Entry: $2.56ā$2.58
š SL: $2.50
šÆ Targets: $2.68 / $2.75 / $2.80
Buyers defending key support ā next move could be strong ā”
š§© Technical Setup $CAKE
CAKE/USDT bounced from $2.45ā$2.46 support, forming a higher low, signaling buyers defending key levels.
The price reclaimed $2.57, indicating a short-term bullish bias.
On the 4H chart, CAKE is forming a bullish flag/pennant, suggesting a continuation of upward momentum toward $2.70ā$2.80.
Volume is moderate but consistent on green candles, showing accumulation rather than distribution.
The $2.55ā$2.57 zone now acts as strong support, providing a safe entry for momentum traders.
š” Why This Setup Works
Support Bounce: $2.45ā$2.46 held firm.
Pattern Formation: Bullish flag/pennant on 4H suggests continuation.
Volume Confirmation: Consistent accumulation supports trend.
Market Context: Altcoin recovery phase supporting small-cap DEX tokens.
š§ Strategy Notes
Wait for 4H candle close above $2.58 for breakout confirmation.
If price dips back to $2.55, look for a rebound entry.
Suitable for short-term swing traders targeting 4ā10% upside.
#CryptoMarket4T #PowellWatch #BinanceHODLerC #PowellRemarks #USGovShutdownEnd?
