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$CAKE /USDT Daily Chart Analysis – 🚀 Strong Bounce, but Overbought!

Current Price: $2.838 (+7.13%)
Daily Range: High: $3.416 – Low: $2.630

📊 Key Technical Insights:
🔹 Trend & Price Action:
CAKE is rebounding sharply from recent lows, showing strong bullish momentum.Bollinger Bands widening, indicating increased volatility and a possible trend continuation.

🔹 Moving Averages (MA):
✅ Bullish: SMA 5, SMA 10, SMA 20 → Confirming a short-term uptrend.
✅ Bullish: SMA 50 → A positive sign for longer-term trend reversal.

🔹 Momentum Indicators:
RSI (86.86) → Overbought, a short-term pullback is possible.Stochastic RSI → Bullish crossover, signaling continued upward momentum.
MACD → Bullish crossover, confirming a shift to a positive trend.ADX → Bullish crossover, showing the uptrend is gaining strength.

🔹 Other Indicators:
MFI (Money Flow Index): Overbought, indicating potential short-term selling pressure.
VWAP (Volume Weighted Average Price): Downtrend, suggesting caution despite the rebound.

📉 Resistance & Support Levels to Watch:
🚀 Key Resistance: $3.50, $4.00
📉 Key Support: $2.50, $2.20

⚠️ Outlook & Trading Plan:
✅ Bullish Scenario: If CAKE breaks and holds above $3.00, the next targets are $3.50 and $4.00.

⚠️ Bearish Risk: RSI and MFI indicate overbought conditions, so a pullback to $2.50 or lower could happen before another move higher.

📢 Conclusion: CAKE is in a strong rebound, but caution is needed as RSI and MFI are overbought. Watch for consolidation before another leg up!

🔥 Trade smart & manage risk! 🚀📈

#CAKEUSDT #CryptoTrading #Breakout #TechnicalAnalysis