🥲 $2,000 Loss on #CAKE – What’s My Next Move? 🤔
Yesterday, my 4,503.63 $CAKE tokens in Binance were worth about $12,608 when CAKE was trading around $2.80. I held on, expecting further upside—but today, CAKE has dropped to $2.37, bringing my holdings down to $10,687, a $2,000 unrealized loss.
📉 What’s Happening with CAKE?
🔻 Price Drop: CAKE has fallen below key support, testing $2.37 with strong support at $2.15.
🔻 Resistance Levels: A bounce back toward $2.70 - $2.80 could happen if momentum returns.
🔻 Bearish Risk: If the support at $2.21 breaks, we could see another leg down.
📊 My Plan Moving Forward:
✔️ I’ve set a stop-limit sell at $2.21 to manage downside risk.
✔️ If CAKE recovers, I’ll look to exit around $2.70 - $2.80 to regain losses.
✔️ Watching the market closely for a potential reversal.
What do you think? Will CAKE bounce back, or should I cut my losses?👇