Where would CAKE go?
Since 2023, CAKE's lowest price has been $1.050. Entering the bull market, CAKE is in a bullish trend when viewed on a daily timeframe. However, some imbalances and demand areas need to be cleared before CAKE continues its bullish trend.
There are a few scenarios:
Of course, if the higher low at $1.552 is broken, the next support is $1.20.
Disclaimer: This is not a financial advice.
There are a few scenarios:
- CAKE will take out demand in the $1.908 - $2.022 area and continue its rally
- CAKE closes the imbalance and sweeps the demand area at $1.577 - $1.770 to resume its rally
- Bullish failure if price drops past $1.050
Of course, if the higher low at $1.552 is broken, the next support is $1.20.
Disclaimer: This is not a financial advice.
Disclaimer
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