CAKE/USDT Technical Analysis and Price Targets
1. General Overview
The chart shows the price movements of the CAKE/USDT pair, along with support and resistance levels, volume profile, and swing points. The current price is 2.185 USDT.
• Swing High: 4.515 USDT
• Swing Low: 1.116 USDT
• High Trading Volume Area: Around 2.50 USDT
Short-Term (Daily - Weekly)
Target: 2.50 - 2.60 USDT
Reasoning:
• There is a high trading volume around 2.50, indicating strong interest in this level. The price is likely to be attracted to this zone.
• The 2.00 level is acting as support. If it holds, a short-term rebound towards 2.50 is possible.
Risk:
• If the 2.00 support level breaks, the price could drop toward 1.80.
• The current trading volume is low, indicating weak momentum.
Mid-Term (1-3 Months)
Target: 3.40 - 3.50 USDT
Reasoning:
• The previous resistance at 3.416 suggests this level is a key area where sellers have been active.
• If the price successfully breaks above 2.50, it could gain momentum towards 3.40-3.50.
• A positive market sentiment could further support this move.
Risk:
• If 2.50 is not broken, the price could drop back towards 2.00.
Long-Term (6+ Months)
Target: 4.50 - 5.00 USDT
Reasoning:
• The Swing High at 4.515 is a major resistance level.
• If the CAKE ecosystem and DeFi projects continue to grow, the price could reach this level in the long run.
• In a bull market scenario, a move above 5.00 is possible.
Risk:
• Macroeconomic conditions and the overall crypto market trend need to be positive for CAKE to reach these levels.
Conclusion
- In the short term, a move toward **2.50
1. General Overview
The chart shows the price movements of the CAKE/USDT pair, along with support and resistance levels, volume profile, and swing points. The current price is 2.185 USDT.
• Swing High: 4.515 USDT
• Swing Low: 1.116 USDT
• High Trading Volume Area: Around 2.50 USDT
Short-Term (Daily - Weekly)
Target: 2.50 - 2.60 USDT
Reasoning:
• There is a high trading volume around 2.50, indicating strong interest in this level. The price is likely to be attracted to this zone.
• The 2.00 level is acting as support. If it holds, a short-term rebound towards 2.50 is possible.
Risk:
• If the 2.00 support level breaks, the price could drop toward 1.80.
• The current trading volume is low, indicating weak momentum.
Mid-Term (1-3 Months)
Target: 3.40 - 3.50 USDT
Reasoning:
• The previous resistance at 3.416 suggests this level is a key area where sellers have been active.
• If the price successfully breaks above 2.50, it could gain momentum towards 3.40-3.50.
• A positive market sentiment could further support this move.
Risk:
• If 2.50 is not broken, the price could drop back towards 2.00.
Long-Term (6+ Months)
Target: 4.50 - 5.00 USDT
Reasoning:
• The Swing High at 4.515 is a major resistance level.
• If the CAKE ecosystem and DeFi projects continue to grow, the price could reach this level in the long run.
• In a bull market scenario, a move above 5.00 is possible.
Risk:
• Macroeconomic conditions and the overall crypto market trend need to be positive for CAKE to reach these levels.
Conclusion
- In the short term, a move toward **2.50
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.