As you can see in the chart, the price of CAKE has experienced significant growth after a period of decline and volatility. The price bounced back from the $1 support zone and has since experienced another minor increase after a pullback to the $2.50 demand level. The price is currently trading at $3.20.
By examining the behavior of candles in the long-term time frame, we can expect the following for the future of this currency:
If the $2.50 price range is maintained, we can expect further growth to the $4.50/5 liquidity zone and a new high above $4 (HIGH). The above image shows the possible long-term trend of CAKE and the desired targets. This trend indicates the significant growth potential of this currency in the long term. The important support zones are $2.50 and $1.70.
This is not financial advice. Always do your research before making any investment decisions.
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌ if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌
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A 36% increase so far🧐
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TP: ✅$5 🍻🚀64%
As you can see, the price grew by 64% from the $3 range, according to the predicted scenario. Then, it faced a minor correction due to the liquidation of buyers and is currently trading at $4.16. The price is moving according to the predicted scenario. The previous report is also valid. After a minor correction and confirmation, we may see further price growth to the $7 and $11 ranges in the long term. Price corrections can be an opportunity to add more.
❗Remember, this is just a technical analysis and not financial advice. Always do your research before making any investment decisions.⚠
I hope this analysis was helpful! If you have any questions, feel free to ask.✌🙌
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The previous report is also valid✌🙌 ⚠️(DYOR)...
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🔺After a remarkable 64% surge, Cake has returned to the $2.50 zone and is currently trading around 3.As mentioned in our previous analysis, a correction was expected, and this dip aligns with that expectation. However, it's important to remember that the long-term bullish outlook for Cake remains intact.
🤓 Personally, I believe Cake has the potential for significant growth during this year's bull run.
🔻This is not financial advice. However, as always, it's crucial to conduct your research and exercise caution before making any investment decisions. The cryptocurrency market is inherently volatile, and unforeseen events can always impact price movements.❗️ Happy trading!
Sure, if you have any more questions or need further clarification, feel free to ask. I'm here to help!✌ if you found my analysis helpful, I would appreciate it if you could show your support by liking and commenting. Thank you!🙌
How do you think the growth of Bitcoin will affect alts in the short term?