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CAKEUSDT trade ideas

CAKE analysis - sales pressure from 12 month unlocked staking In the short term CAKE is expected to drop to at least the prior support price as it would be unusual to drop this far and not retest that price The main driving force behind the price movement right now is large amounts of CAKE are being unlocked from 12 month staking. About a year ago - April 2022 - Pancakeswap was offering large staking interest for 12 month staking. The interest rate / APY was around 140% at one point but has since settled down to the current 45%-ish rate. Due to the high APY rate, a lot of people staked their CAKE for 12 months at that time. That was expected to reduce selling pressure and help the price move up - however for whatever reason ... the price trended down We are now at a point 12 months later where a lot of that locked CAKE is being unlocked. I expect people are panicing due to the price drop and dumping their unlocked CAKE and in addition if they know about what I mentioned above they will be even more panicy as they are aware that a lot of people are getting their cake back around this time. As mentioned above - staking should help the price go up by reducing sales pressure due to coins being taken off the short term market so they can not be sold. Unstaking does the reverse of that - putting the coins back in the holders hands market where can be sold - that adds to the sales pressure and can make the price drop. Also - the current APY (45%) is not as exciting as the earlier (140%) so that makes re-staking less appealing than it was 12 months ago With all of that in mind, CAKE could have a large drop from the current price. I hope CAKE turns around soon as it has huge potential due to being an integral part of Pancakeswap exchange - however I can not recommend a buy at this time. This is only what I think will happen in the next few weeks. After that I dont have any ideas on whether it will move up or down Just my 2c personal opinion. I am not a qualified analyst. Do your own research etc etc
Short
by shollows
1
CAKEUSDT Long Signal: Target 8.888Hey traders, I'm sharing a long signal for CAKEUSDT with you today. Here's my analysis: The token has been in a strong uptrend since early February. It has broken above several key resistance levels. The RSI indicator is above 70, indicating bullish momentum. The MACD indicator is also bullish, with the MACD line above the signal line. Based on this analysis, I believe CAKEUSDT will continue to rise until it reaches 8.888. Here are some tips for trading this signal: Use a stop-loss order to protect your capital. Don't risk more than you can afford to lose. Be patient and wait for the market to confirm your analysis. If you have any questions, feel free to leave a comment below. Good luck! Here are some additional details to consider: Timeframe: This is a short-term trade, so you should expect to hold the position for a few days or weeks. Entry price: You can enter the trade at the current market price, or you can wait for a pullback to a lower level. Exit price: Your target price is 8.888. You can also set a trailing stop-loss order to protect your profits as the price moves in your favor. Risk management: Always use a stop-loss order to protect your capital. Don't risk more than you can afford to lose. Remember, trading is a risky activity. Always do your own research and consult with a financial advisor before making any trades.
Long
by ChartSavant
CAKE has broken its weekly MA100 that is a strong bullish signalPancakeSwap ( BINANCE:CAKEUSDT ) has broken above its weekly moving average 100 that is a strong bullish signal. We are hours away from the confirmation of this signal when this weeks candle closes above the weekly MA100. Later on, after a possible pull back to the moving average it will continue its way toward much higher price targets as the way above is very much clear. Only if you try to leverage the ichimoku indicator you would notice that there is a small resistance caused by the lagging span which is right now below the red massive weekly cloud. As soon as the lagging span is freed on the weekly BINANCE:CAKEUSDT is on a parabolical journey towards its all time highs. We are talking about at least 12x profit from here if you consider buying and holding for a longer time when it reaches its previous all time highs. Of course, it can potentially even go higher than that. So keep an eye on the BINANCE:CAKEUSDT in the upcoming week and wait for the confirmations to get into the trade. Good luck.
Long
by KryptoSpecter
9
$CAKE* Cake is sitting on weekly support. * Possibility of cup & handle formation 1d: Bullish trend strength: 21 MA7 > MA25 > MA99 MA50 > MA100 > MA200 Supertrend is long Price > MA50 Chikou Span > Price Bearish reversal potential: 15 MACD Bearish Cross DI+/ DI- Bearish Cross Bearish Engulfing 3D: Bullish trend strength: 32 MA7 > MA25 > MA99 Supertrend is long Price > MA7 Price > Tenkan Sen Price > Kijun Sen > Kumo Chikou Span > Price MACD > 0 Bearish reversal potential: 1 StochRSI Overbought
Long
by TraderASY
2
$CAKE has 2 ways to breakout#CAKE has two options in my opinion: Scenario A: - the volume increases and on a daily timeframe we can see a possible breakout of the first resistance. So far the support is holding. Scenario B: - if the volume decreases we can see a possible retrace but soon it will be possible to re-try and finally break the resistance. IMO the scenario A is more what will happen. In both of the cases, buckle up! NASDAQ:CAKE can easily reach the old time high, other folks are saying it can even reach $100 in this bull run. Do always your diligence and take profit along the way. My strategy is to take 25% to all my targets, for instance: - take 25% profit when it reaches 10$ - 25% when it reaches $20 - 25% if it reaches $40 - the rest will ride until I think it's the ATH
Long
by Leandro_P
CAKE can go to the bottom of the rectangleCAKE can go to the bottom of the rectangle again before it continues to to up 🔵Entry Zone 3.021 - 3.128 🔴SL 2.6264 🟢TP1 3.3490 🟢TP2 3.6706 🟢TP3 4.5688 Risk Warning Trading Forex, CFDs, Crypto, Futures, and Stocks involve a risk of loss. Please consider carefully if such trading is appropriate for you. Past performance is not indicative of future results. If you liked our ideas, please support us with your likes 👍 and comments.
Long
by JosephMcKenzie
🎂💹 CAKE Trading Strategy - Laddering Within Support Zone! 🚀📊🔍 Strategy Overview: Condition: Testing the $3.00 - $3.15 support area. Entry Criteria: Ladder entry within the support zone. Targets: Aim for the next resistance levels at $3.45 or $3.65 - $3.80. Risk Management: Set stop-loss just below $2.80. 📢 Analysis: Utilizing laddering within a strong support zone provides flexibility. Keep an eye on market dynamics and adapt as needed. 🌐🚀 #CAKE #CryptoTrading #RiskManagement 💰📈
Long
by Richtv_official