BREAK DOWN before DROP then EXPLOSIONCAKE has a good chance of making one last leg down before hitting a good Buy Zone ($1.20 - $1.05)!
I’m not a big fan of support lines, but this one has some validity especially since the MACD is losing momentum.
Then the next move we may see some serious green candles to the upside.
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CAKEUSD trade ideas
CAKE📊 #cakeusdt
⏱ TIME : 1W
📝It is reaching very important areas for spot purchases, and you can make purchases in a gradual and managed manner. It has also been checked for fundamental analysis and is a sustainable and strong project for the future.
📍The initial buying limit: 1.18 $
📍The second buying limit: 0.47 $
📌TP1 : 1.45 $
📌TP2 : 2 $
📌TP3 : 2.9 $
📌TP4 : 5.5 $
CAKEUSD. WHAT HAPPEND TO YOU ?HI DEARS
2 days ago something big happened to Pancake Swap's liquidity pools.
Reports that a so-called "mass unlock" of calls on the CAKE smart contract drove a reduction of 4% in the protocol's total value locked (TVL) over the past day. This comes as PancakeSwap officially concluded the integration of its V3 liquidity pools with Ethereum and BNB Chain.
after this news price drop near 25 % and tuch weekly support , technically price placed in a good demand zone which can bounce it to the red line tops in daily time.
BINANCE:CAKEUSDT
BINANCE:BNBUSDT
CAKE Shorts, Unlimited supply tokenPancakeSwap is a decentralized cryptocurrency marketplace that runs on Binance's BEP-20 network. PancakeSwap is the largest decentralized marketplace on the BEP-20 network. Many crypto asset projects use pancakeswap as their primary option to list their tokens for listing and add liquidity. However, the weakness of this token is that the supply is not limited, so that the supply circulating in the future will be more and more.
Currently CAKE is in the symmetrical triangle area and no breakout has been confirmed. However, CAKE's move has bounced off the resistance line at $3.8 and is about to try to test its support line at $3.6. potential decline of 5.6% that will occur. For now it's better to wait and see
CAKE Proffesional Analysis PancakeSwap, a decentralized exchange built on the Binance Smart Chain, is currently generating a lot of attention in the cryptocurrency market. The recent bullish trend seen in the 20 and 50 exponential moving averages is providing a positive outlook for the asset. This crossover of the EMAs is a positive sign for traders and investors, indicating that the price of PancakeSwap is likely to move upward in the near future.
Furthermore, the daily chart for PancakeSwap shows higher lows, a bullish pattern that is further supporting the positive outlook. The fast transaction times, low gas fees, and high liquidity on PancakeSwap have made it a popular choice for decentralized trading, and the current bullish trend is only adding to the excitement around the project.
However, as with any investment, it's important to keep in mind that cryptocurrency markets can be highly unpredictable. It's essential to do thorough research and understand the potential risks before making any investment decisions.
Overall, PancakeSwap is worth paying attention to as the asset continues to display bullish signs and potential for growth in the decentralized exchange market. With a strong following and increasing popularity, PancakeSwap is one to watch in the near future.
[UPDATE CAKE] What can happen?Cake move:
Short term:
1) small pump up to 5.5-6$, deviation, dump
2) dump to the mid-range of the small range (3.5$), pump to 8-9$, then dump
Long term:
1) deviation, consolidate in the 1.5-2.5$ range, initiate new pump
2) consolidate in the 1.5-2.5$ range, final dump to Jan 2021 prices, consolidation, initiate new pump
This is true for cake and for many other alts.
$CAKE DAILYCAKE daily
poised to run hard if $BNB does too imo. Has been a market outperformer since June. This chart looks too good. Algo likes it in every way for the first time since August 2021. Fundamentals+Technicals in crypto is rare, but cake has it as Binance Chains #1 DEX doing hundreds of millions of dollars of USD revenue every day. 3 BILLION USD TVL.
💡Don't miss the great buy opportunity in CAKEUSD @PancakeSwapTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (4.606).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CAKEUSD is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 4.822
TP2= @ 5.076
TP3= @ 5.549
TP4= @ 6.235
TP5= @ 7.138
SL= Break below S2
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💡Don't miss the great buy opportunity in CAKEUSD @PancakeSwapTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (4.606).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. CAKEUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 65.
Take Profits:
TP1= @ 4.822
TP2= @ 5.076
TP3= @ 5.549
TP4= @ 6.235
TP5= @ 7.138
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . Drop some feedback below in the comment!
❤️ Your support is very much 🙏 appreciated! ❤️
💎 Want us to help you become a better Forex / Crypto trader ?
Now, It's your turn !
Be sure to leave a comment; let us know how you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
Cake - A Breakout is duePancecake Swap token got rejected in area $5, a resistance area formed during the crash of May - June, when the price plummeted to its multi-year low at ~$2.5 price per token.
Over the course of the past 4 months, Cake has been able to grow +100%, pushed by a positive momentum generated from the additional commitment from several investors in the platform and overall solid and steady investor appetite.
In September, Cake broke a long term bearish trend-line in area $4.4 and was attempting to touch the short-term bearish trend-line from April highs before getting rejected from the resistance in $5 area.
Depending on market conditions, would be likely of a minor correction from here to area $4.2 before trying to break out past area $5.
CAKEUSD and WTZ4Actually, I staked the coin on Pancake Swap Platform and my coins have been locked for many months without other opportunity. So, I have to find an opportunity on trading instead. I apply my favorite setup for short-term trading. The first TP is expected with limited risks. Good Luck, everybody.
Cake High Probability Short-Term target - CFA Qualified Analyst BINANCE:CAKEUSDT
This short term goal should be achievable within 1-3 months. I would suggest having 50% TP at $5.33, a 21.5% gain that should happen in less than a month. You can put another 50% of remaining amount at $8.33 as next target, or 100% of remaining amount which I strongly recommend because price will be pulled back and you can re-enter.
Summary:
1. Entry below $4.5
Target 1: $5.33
Target 2: $8.33
P/S: I am part-qualified CFA holders and have been testing my trading strategy since 2017 from which I have been making decent profits, I don't do this for money or anything but to pass my knowledge to anyone who wishes to learn. Trade safe and stay positive.
The Friendly Analyst