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CAKE

🔥 CAKE Reversing From Massive Resistance: Great Risk-RewardOver the last few weeks I've made several bearish analyses on CAKE. This downwards spiral started mostly because of the April vote which investors hated. As far as I'm concerned, CAKE will only fall further. Apart from the terrible tokenomics, the rest of crypto is looking more bearish than bullish as well. We're placing the stop above the most recent highs, around 1.43, which is also the area where the resistance was last hit. Target at 1.00 since it's a big round number.
Short
by FieryTrading
5
🔥 CAKE = 💀Last month I made an analysis on CAKE and the fact that it was selling off severely. My 2.50 support was the last hope for the bulls, which inevitably failed. Fast forward to today, and we're trading at 1.50, a truly abysmal feat. Short-sellers are happy, stakers and investors are either exiting in droves or seeing their funds evaporate. I think that there's little hope for CAKE to ever recover from this. Unless they make some drastic changes to the tokenomics of this token, I don't see it ever taking off again. Keep in mind that this is normal for a lot of tokens. The good ones survive the bear market, the bad ones die. We might see some kind of pump occurring over the next year, but I'd be surprised if this token will go above 3.00 ever again.
Short
by FieryTrading
9
CAKE Bottom Is InThere has been an incredible dump of CAKE over the past month, and I believe the bottom is in after printing an ATL at $1.77. There have been eight consecutive candles near the ATL along with massive burns of the token since the dump started. I've marked fib channels showing the way back up, but I don't think the red .236 line will present much of a challenge. With trading bottoming out around $1.80, I'm thinking the Bollinger Bands will form a brief period of consolidation in the near future, followed by a move up to challenge the orange .382 fib line. From personal experience, trading into large gaps on the daily 200MA has been profitable. The candles always return to the mean whether you're long or short into the trade. This dump is like taking a mirror to the pump of 2021 only in reverse. Currently there is a huge distance between the candles and 200MA, which on a daily chart it takes quite some time for it to sink. Short term trades could exit at the .382 / $3.11. But if we consider that CAKE has previously traded over $40 and it is a yield bearing asset, there is an opportunity to ride this trade up for much longer than a quick 68% return. Fundamentally, people who have either won or lost on meme coins will look to pivot towards utility based tokens. CAKE is the native token of pancakeswap which is a top 5 DAPP across all chains in terms of unique active wallets, with billions in TVL. It will be attractive to this cycle's noobs who came in for PEPE or WOJAK...for more reasons than one. Good luck, NFA
Long
by ChartswithChip
1
CAKE´s potential reversal zone @ $1.77 and "Achilles Last Stand"So here we are with NASDAQ:CAKE , not only did it enter the death zone but it also went "deep into it". We made lower lows and thus decoupled from the rest of the pack (bitcoin, ethereum, bnb, even solana!) which is correcting, yes, but did not invalidate the - for the time being- end of the bearish trend that begun showing its teeth back in may 2022. Where do we stand? In my Eliott analysis, NASDAQ:CAKE is (or could be) finishing a wave 5 of 5 of C (the greater ABC correction). I expect the target for a potential reversal to be a 1: 1.618 Fibonacci of this last 12345 wave, namely $1.777 It could even go as far as $1.50 and still rever (look at the October 2020 weak support at that level). If it happened to fall from such a cliff...Achilles Last Stand would be @ $0.45 cents. From there... twas´nice to meet you NASDAQ:CAKE :(
CShort
by Ivanbole71
3
🔥 RIP CAKE: Going To Zero?CAKE has been dumping very hard over the past couple of days. Where the market has seen a big bullish move, CAKE completely ignored it and continued going down. Why you ask? It has to do with a token unlock. Investors got their hands on 52-week staked tokens and sold them on the open market. Apart from the terrible looking technicals, the idea behind this unlimited supply (inflationary) token just doesn't perform well in bearish market conditions. If we will not see some kind of bounce from the June 2022 lows, I don't see any reason to be bullish on CAKE in the foreseeable future. In addition, we have to consider the fact that CAKE might have had it's peak and will slowly bleed to zero over time (which is not uncommon in crypto). Is this token going to die? Reversal when? Share your thoughts on CAKE🙏.
Short
by FieryTrading
11
What’s in Market about #PancakeswapCake/USDT Chart Analysis: Is It Time to Buy? Cake (CAKE) is a popular cryptocurrency that has been in the news lately due to its recent price movements. The coin has been experiencing pressure as investors are selling following the unlocking of tokens. This article will provide a detailed chart analysis of Cake/USDT and explore whether it is a good time to buy. Chart Analysis: As per the chart, Cake is currently trading at handle support. If it can hold this support, we can see an upward rally. However, it is recommended to wait for the market negative sentiments to settle before entering the market. If you decide to enter, the suggested buy level is around $2.5-$2.7. The pattern observed is a cup and handle pattern, which suggests that there is potential for the coin to increase in value. Long-term Targets: In the long term, Cake has significant potential for growth. The targets for Cake/USDT are $4.6, HKEX:8 , HKEX:12 , and $20. These targets are based on the analysis of the cup and handle pattern observed in the chart. Stop Loss: It is important to have a stop loss in place to minimize losses. If any daily candle closes below $2.30, it is recommended to exit the market to prevent further losses. Market News: Recent market news indicates that Cake has unlocked tokens, and investors are selling due to the broken promise of 200% staking reward, which was reduced to 46% after two months. This situation has created pressure on the coin, leading to a decrease in value. Takeaways: Cake is currently trading at handle support, and if it holds this support, an upward rally can be expected. The pattern observed is a cup and handle pattern, suggesting that the coin has potential for growth. The suggested buy level is around $2.5-$2.7. The long-term targets for Cake/USDT are $4.6, HKEX:8 , HKEX:12 , and $20. It is important to have a stop loss in place to minimize losses. Recent market news indicates that Cake has unlocked tokens, and investors are selling due to the broken promise of 200% staking reward. Conclusion: Cake/USDT is a cryptocurrency that has shown potential for growth in the long term. The current chart analysis suggests that it is a good time to buy, provided the coin holds the handle support. However, recent market news indicates that there is pressure on the coin due to the unlocking of tokens and broken promises. It is recommended to do your research, invest wisely, and always have a stop loss in place to minimize losses. Follow us for more Quality Content. Thank you.
by CryptoPatel
5
CAKE Idea for Long tradeLow risk, entry price: Above $3.890 till $3.900 Medium risk, entry price: ==> 1. Above $3.850 in Yellow Area & 2.After 1H or 2H candle sticks close in Yellow Zone above $3.850, it means that can be close to Uptrend line CAKE vs USDT CAKEUSDT CAKEUSD BINANCE:CAKEUSDT CRYPTO:CAKEUSD ✅ ✅ Risk warning, disclaimer: the above is a personal market judgment and analysis based on published information and historical chart data on The trading view, And only some of these analyzes are my actual real trades. I hope Traders consider I am Not responsible for your trades and investment decision.
Long
by Arash-RK