$CAKE / USDT Showing Bullish Intent on Binance! 🥞

$CAKE is currently trading at $1.741 on Binance, showing signs of a potential upward move. Despite a slight 1.47% dip today, the 4-hour chart indicates a +1.69% increase in the current period to $1.741.

After a period of consolidation, CAKE appears to be gathering momentum. Key levels to watch:

Potential Entry: Around the current price of $1.741.
Immediate Resistance: Monitor the $1.780 level. A break above this could signal further bullish continuation.
Next Target: If the upward momentum persists, the $1.850 level could be the next target.
Key Support: The $1.700 level is acting as near-term support. Holding above this is important for the bullish scenario.
Stop-Loss Consideration: Depending on your risk tolerance, consider placing a stop-loss below the recent low.

Technical Insights: The 4-hour chart shows some bullish candles forming after a period of downward movement. Keep an eye on volume and further price action for confirmation of a sustained uptrend.

Disclaimer: Cryptocurrency trading involves significant risk. This is not financial advice. Always conduct thorough research before making any investment decisions.

Stay alert and trade carefully!

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