#CAKE After the announcement of the CAKE listing on Coinbase, the altcoin rose by about 1 percent and traded around $2.44 on Wednesday, June 4, during the late trading session in North America. As a result, the mid-cap altcoin with a fully diluted market cap of around $903 million and an average trading volume of about $131 million indicated an upcoming breakout after several weeks of consolidation. On the four-hour chart, the price of CAKE has been consolidating in an ascending triangle since the end of February 2025. Significant resistance was recorded above $2.87 after the price of CAKE was rejected more than four times over the last three months. With the MACD line on the four-hour chart about to cross the zero line, the price of CAKE is well-positioned for a breakout above the resistance level around $2.9 and to reach a short-term target of around $4.3. However, if the price of CAKE consistently closes below the established ascending logarithmic trend, a potential drop below $2 will be inevitable.