$CAKE CAKE/USDT: Sweet Dip or Burnt Toast?
CAKE's tasting bitter today at **$2.36 (-5.74%)** as DeFi tokens cool off. But with **$25M+** volume, this could be a healthy pullback before the next leg up. Here's the recipe for trading this move:
**Kitchen Fire Reasons:**
- DeFi sector correction after recent gains
- CAKE still up 30% from last month's lows
- "Pancake Flippers" taking profits
**Make-or-Break Levels:**
- **Support:** $2.254 (24h low) → break could see $2.10
- **Resistance:** $2.392 (daily pivot) → clear this for $2.50+
**Technical Mix:**
- RSI(6) cooling from **68.5** (was overbought)
- MACD still positive (**0.001**) but momentum slowing
**Oven Forecast:**
If BTC holds, CAKE could rebound to **$2.50**. But lose $2.25 and we're testing the **$2.00** psychological level.
**Trader's Recipe:**
- **Aggressive:** Buy dips near $2.25 with stop at $2.20
- **Patient:** Wait for RSI to reset below 50 for better entry
- **Watch:** MACD crossover for confirmation
Don't get burned - manage risk in this volatile kitchen!
