Golden Rolex
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#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.
CAKE/USDC
#ZIL
What Happened to the Zilliqa Network?
According to an official announcement shared on their X (formerly Twitter) account, the Zilliqa network is currently experiencing a technical challenge. Specifically, the team identified a syncing issue impacting its lookup and API nodes. Think of these nodes as essential gateways that allow users and applications to interact with the blockchain, retrieve data, and submit transactions. When these nodes aren’t syncing correctly, it disrupts the flow of information and operations on the network.
This syncing problem is preventing the network from processing transactions on-chain. This means any attempts to send, receive, or interact with assets or smart contracts on the Zilliqa blockchain are currently paused.
Why Are Zilliqa Transactions Paused?
The core function of any blockchain is to process and record transactions securely and transparently. The syncing issue directly impacts the network’s ability to validate and add new blocks containing these transactions to the chain. To address the root cause and prevent further complications, the Zilliqa team has taken the necessary step to temporarily halt Zilliqa transaction processing.
This measure, while disruptive, is often implemented during critical network issues to allow the development team to diagnose and fix the problem without risking data integrity or creating inconsistencies on the chain. It’s a temporary pause button pressed to ensure the long-term health and reliability of the network.
What Happened to the Zilliqa Network?
According to an official announcement shared on their X (formerly Twitter) account, the Zilliqa network is currently experiencing a technical challenge. Specifically, the team identified a syncing issue impacting its lookup and API nodes. Think of these nodes as essential gateways that allow users and applications to interact with the blockchain, retrieve data, and submit transactions. When these nodes aren’t syncing correctly, it disrupts the flow of information and operations on the network.
This syncing problem is preventing the network from processing transactions on-chain. This means any attempts to send, receive, or interact with assets or smart contracts on the Zilliqa blockchain are currently paused.
Why Are Zilliqa Transactions Paused?
The core function of any blockchain is to process and record transactions securely and transparently. The syncing issue directly impacts the network’s ability to validate and add new blocks containing these transactions to the chain. To address the root cause and prevent further complications, the Zilliqa team has taken the necessary step to temporarily halt Zilliqa transaction processing.
This measure, while disruptive, is often implemented during critical network issues to allow the development team to diagnose and fix the problem without risking data integrity or creating inconsistencies on the chain. It’s a temporary pause button pressed to ensure the long-term health and reliability of the network.
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Pancake Swap Rally
#CAKE Pancake Swap (CAKE) rally targets $3 after breaking a key level Key points: Pancake Swap exceeded $100 billion in monthly trading volume. CAKE trading volumes surged in the last two days following the news. CAKE needs to stay above $2.5 to continue the rally. Cake is facing strong selling pressure around $3. So, what now? The price has retraced after reaching $2.95. As the chart shows, there is strong selling pressure at these levels or around them, making the $3 target much more achievable as it is likely to be retested at some point. However, the market has already shown strong selling at this level, so bulls may decide to take some profits off the table and gather the necessary liquidity to retest it later. The bullish structure of the token remains intact, and a new 'floor' in the uptrend has now been established. Consequently, the key support to watch over the next couple of days will be the $2.5 level. The Relative Strength Index (RSI) has risen to overbought levels, which already indicates that the trend is quite strong. As the price approaches the $3 area, traders can expect significant volatility when CAKE reaches this level. If the bulls manage to break through, it could lead to a significant rise, possibly up to the $4 area, as this breakout could trigger massive compression. Key areas to watch for CAKE: Moving to a lower time frame, we see that the rally began to fade after reaching this key resistance area around $2.9. For now, as long as the second-best higher high ($2.5) is held, CAKE's outlook will remain optimistic. In fact, today's American session may attempt to push again towards the $3 level to see if they can unlock additional liquidity by triggering a large volume of stop orders. A sign of exhaustion at this stage would be a bearish crossover between the 9- and 21-period exponential moving averages (EMA) along with a declining Relative Strength Index (RSI), which is already happening. There is also a significant fair value gap (FVG) at the $2.5 level. Thus, combined with the psychological importance of this price level and its position as the next key support area to watch, this will be the most likely landing zone for CAKE in the event of a pullback.
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