The CAKE/USDT pair is currently consolidating inside a symmetrical triangle, showing signs of reduced volatility and building pressure. Multiple price reactions at both the upper and lower trendlines (highlighted with orange circles) confirm the triangle’s validity.
A breakout scenario appears likely, with a potential upward move of around 76%, targeting the $4.38 region. A key resistance level sits at $3.439, which may act as a pullback zone before continuation.
The support zone is well-defined near $1.487, and price has respected this level consistently.
If bulls manage to push through the triangle’s resistance, this could signal the beginning of a significant bullish leg in the coming weeks.
⚠️ As always, wait for confirmation before entering a trade and manage your risk accordingly.
#CAKE #Crypto #Breakout #TechnicalAnalysis #Altcoins #TradingView
A breakout scenario appears likely, with a potential upward move of around 76%, targeting the $4.38 region. A key resistance level sits at $3.439, which may act as a pullback zone before continuation.
The support zone is well-defined near $1.487, and price has respected this level consistently.
If bulls manage to push through the triangle’s resistance, this could signal the beginning of a significant bullish leg in the coming weeks.
⚠️ As always, wait for confirmation before entering a trade and manage your risk accordingly.
#CAKE #Crypto #Breakout #TechnicalAnalysis #Altcoins #TradingView
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.