$Cake to 30 $ USD?Cake has a build-up period of 65 days and a triangle has formed. Assuming bitcoin continues to rally up, the triangle is targeting $ 22, $ 26 and $ 30.
Otherwise, if cake falls below $ 16.90, the price action will take Cake to support the bullish channel at $ 15.
Take your forecasts, I am currently still doing cake staking
CAKE
CAKE-USDT Expecting a BreakoutCAKE-USDT currently accumulating under 21$ & forming a descending triangle chart pattern in 4H & 1D time frames. This should breakout soon since price action is almost near the apex of the triangle. Please wait for a clear breakout with above-average volume to enter for the trades.
BTC price & Dominance will be directly affected to the above prediction.
✴️ CAKE/USDTCAKE has been trading in the yellow zone of the MMR band very severely, but on-chain data analysis shows the downward moves have started to come to an end. I expect CAKE to begin reclaiming its previous prices on the long time frame charts by retesting the resistances at 18.90, 21.00, and 22.60.
CAKE/USDT ChartCAKE is in a very interesting position right now with a invalidation at the 17.50$ support and ready to a move to 21$ resistance. The RSI shows that the coin is undervalued, and the OBV is also seeing a good comeback. BNB has been pumping lately with a +5% move today, and we can expect a pump from other BSC coins (like CAKE). What do you think? Comment, like and follow.
CAKE bullish or bearish? REVIEWSo I think it all depends on this support are around 18. It seems bears have the upper hand here BUT bulls are not so far behind either! AND with the recent BNB pump + fundamentals around memecoins which are mostly on BSC, I bet my money on the BULLISH scenario!
If somehow the bears takeover, which is very unlikely, the price can momentarily touch 16-13 areas that seems to have strong support. And even if this scenario plays out I still wouldn't be too worried about it as for the long term CAKE is definitely bullish AF!
HODL & stake for that APY!
(STILL, proceed with caution)
DYOR.
CAKE bullish or bearish?CAKE recently lost it's support at 20 and now it's retesting 18 zone.
I don't see any more price drop from here as this seems to be a very strong support zone. In the next few days CAKE will be retesting it's previous support zone at 20-21 and if it can break above it, which is likely according to bullish signs, price can easily target 26 resistance area and in extereme bullish scenario even 42 and higher but for that to happen I think we first need a more higher low support zone.
🔥 CAKE Underperforming: Bearish ChannelCAKE was, untill recently, one of my favorite tokens on the market. It had a very active community, great website and staking possibilities.
However, since CAKE topped late August, CAKE is one of the few tokens that lagging the market. Either this has to do with the staking rewards being sold in huge numbers, or that there's just better alternatives in the market now.
In any case, CAKE's bearish channel is definitely a thing. With the recent dump from BTC, CAKE followed and bounced off the top of the channel.
In case of a prolonged bearish move from BTC, I'm looking at the bottom trend line for a potential bounce.
Happy trading!