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Cakeusdt

$CAKE has probably hit the bottomAfter almost 3 months of downward pressure from its rally that started in July that took it to $26.60. It has been bouncing off the .382 fib retracement and has formed a bull pennant on the weekly chart and it could break very soon. It is also hitting oversold territory on the weekly Stochastic RSI and its smack dab in the middle of the weekly RSI. It looks like it can move to the upside to between $30-$37 if the pennant is to be believed. However that means that it would need to get through the .702 fib retracement level where it was rejected last time. Now with that said, BNB/BSC is close to all time highs, people will possibly start to sell and take their profits and what better place to put them would be in to a cheap token that happens to be the biggest Binance Smart Chain DEX. Plus the fact that staking $CAKE can net you 72% APY at the moment will entice them to buy and stake. Also having burned more than $104 million this past week and their continuing burning will help move this up. Looking at the end of the bull run I think $CAKE should be between $88 to $100.
Long
by elpipetuanis
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.
Long
by Crypto_world_011
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.
Long
by Crypto_world_011
12