Technical analysis of coin #CAKE
Token CAKE is trading at $2.136. After a prolonged downtrend, the asset has stabilized, forming a base for a potential reversal. Traders' attention is focused on key support and resistance levels.
📊 Market data:
💰 Price: $2.136
🔄 Daily range: $2.090–$2.180
📈 Trading volume: ~$35 million
💎 Market capitalization: ~$510 million
🧾 Circulating supply: 239 million CAKE
🔢 Maximum supply: Unlimited (gradual emission)
🔍 Indicators:
📉 RSI (14d): 54.70 — neutral zone
🟠 50-day SMA: $2.080
🔵 200-day SMA: $2.450
The price is held above the 50-day SMA, signaling the beginning of strengthening. However, resistance around the 200-day average remains a significant barrier to growth.
🔮 3-month forecast:
✅ Bullish scenario:
Consolidation above $2.200 will open the way to $2.400–$2.500.
Breaking $2.500 will strengthen the uptrend to $2.800.
❌ Bearish scenario:
Breaking the support at $2.080 will increase selling pressure.
Falling below $2.000 will lead to a decline to levels of $1.800–$1.700.
⚠️ The key level to maintain positive momentum is $2.080.
It is important to monitor volumes and market reaction to the overall dynamics of the cryptocurrency market.