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CAKE / TetherUS

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CAKEUSDT trade ideas

just an IDEA ( cake 1D )As you can see and I mentioned in my previous cake chart, unless we maintain above 3$, we couldn't move upward. As you can see, because of the blue trend line, we couldn't stay above 3$, and it was a fake break. As you know, we have been in a range box for 2 months, and based on the range box rules, if we have a fake breakout on either side, there is a high possibility of returning to the opposite side of the range box again. This clearly happened here. Now we are in a support area. We need to see a good reaction here to determine our next steps, but consider that we still have our blue trend line and the 3-dollar resistance above us. 📊Meanwhile, our volume is decreasing, which indicates that people are tired of this range box and these prices. Due to this situation, we could see a sharp move in either direction soon. 📈 Bullish Scenario: We are currently in a support area. We need to see a good reaction here to determine our next steps, but keep in mind that we still have our blue trend line and the 3$ resistance above us. • If the support at $2.40 holds and the price rebounds upward, it may target the next resistance levels around $3 and potentially 3.60 TO 3.80$ . These levels align with the Fibonacci retracement levels of 0.050 to 0.061 from our recent downtrend movement, as well as the resistance indicated by our yellow trend line. 📉Bearish Scenario: • If the price breaks below the support at 2.40 and closes and maintains there, the next target could be the support levels around 2.15. • There are also more bearish scenarios that I don’t want to consider yet. We need to see the reaction at 2.15, and then we will think about that scenario. However, we should keep it in mind. Keep a close watch on these levels and the overall market sentiment to make informed trading decisions. Please let me know what you think.
by amirh-gh
Will CAKEUSDT Make a Big Move? A Key Event Can Push Cake PriceYello, Paradisers! Do you see the potential for a massive breakout in #CAKEUSDT? We have some exciting information that could be vital for the #CAKE movement in the next few days 💎#CAKEUSDT has consistently followed a symmetrical triangle pattern, and right now, we're seeing a bullish double bottom pattern forming at the crucial support zone around $2.29. If the price maintains its momentum, there's a strong possibility of a bullish surge toward the supply area. 💎#PancakeSwap ( NASDAQ:CAKE ) has an upcoming event from June 19 to June 20, 2024. This event could drive demand for #CAKE and associated tokens, potentially causing significant price movement. 💎If #PancakeSwap sustains its momentum, we could see a bullish breakout from the support at $2.29. If the price fails to hold momentum and breaks below the ascending support, we anticipate a bullish rebound from the lower support level at $1.91. 💎However, if NASDAQ:CAKE break below the strong support at $1.91, it would invalidate the bullish outlook, leading to a significant price drop. Stay focused, patient, and disciplined, Paradisers. Make sure to keep an eye on these key levels and trade smartly.
Long
by MyCryptoParadise
3
CAKE is bullishWe have a bullish structure on the chart and also a head and shoulders can be seen at the bottom. By maintaining the demand range, it can move towards the supply side. The targets are clear on the chart. Closing a 4-hour candle below the invalidation level will violate the analysis Note that the financial market is risky, so: Do not enter any position without confirmation and trigger. Do not enter a position without setting a stop. Do not enter a position without capital management. When we reach the first TP, save some profit and try to move the stop continuously in the direction of your profit. If you have any comments please post them, comments will help us improve our performance Thanks
by iMoneyTeam
1
CAKE ready for a POP ! Basing up and holding. above resistance.CAKE strong looking chart, continually basing up and maybe one to follow the DEFI names that already popped. UNI UNFI and SUSHI. just bought the 4h HL off of 4h Ema 12. stop under there.Guys and Gals remember it is no problem buying a strong chart high up. Just respect your stop and let it play out. TA rules, Learn TA from the MASTERS . Learn real setups . Study our Playbook. Get profitable fast! You love Charts and so do we ;) Chris Chartman and the Freedom traders
by ChartmanChris
4
Comprehensive Analysis of the CAKE/USDT Chart1. **Key Support and Resistance Levels**: - **Resistance**: There are two major resistance zones on the chart: - The first zone is between 5.500 and 5.800 USDT. - The second zone is between 6.580 and 6.965 USDT. These areas are highlighted in red and indicate significant selling pressure where the price is likely to encounter resistance. - **Support**: The major support zone is around the 2.500 USDT price level. This area is marked in green, indicating significant buying pressure where the price is likely to find support. 2. **Liquidity Levels (LIQ)**: - **LIQ (weekly)**: Located around 1.206 USDT and 7.500 USDT. - **LIQ (daily)**: Located around 6.580 USDT and 0.994 USDT. Price Movement Prediction: - **Upward Movement**: - If the price can break through the resistance at 5.500 USDT, it may move towards the higher liquidity targets at 6.580 USDT and then 7.500 USDT. These areas are indicated by blue lines and can be considered potential targets for upward movement. - **Downward Movement**: - If the price falls below the support at 2.500 USDT, it may decline towards the weekly LIQ around 1.206 USDT. This level can be considered a target for downward movement. Conclusion: - For short-term traders, monitoring price movements around the key resistance and support zones is important. Traders can look for signs of price reversal in these areas. - For long-term investors, focusing on liquidity levels and overall price movement predictions can aid in better decision-making. If major resistances are broken, a move towards higher liquidity targets is likely, and if key supports are broken, a move towards lower liquidity targets is likely.
by Hooman_Badiefar
6
CAKE looks cheap hereCAKE/USDT (PancakeSwap) Sector: Decentralized Exchange Market Cap: $690M CAKE, PancakeSwap's token, one of the most used DEX, failed to accumulate during the Bear Market, keeping its price in a clear range. We're seeing an exit from the bottom, but we've managed to get back in, and now the upper and lower limits are clear. We are now consolidating on the lower boundary, which offers us a trade opportunity with a limited risk by placing a Stop Loss below this support. We can envisage a return to the upper end of the range, where it would be wise to sell part of our position. And why not hold on to part of the bag, hoping to extract it and sell at the next resistance levels.
Long
by vf_investment