CAKE: anticipating a pullback? key levels to watch ahead

CAKE. Who’s hungry for a pullback after this vertical pump? The token just ripped higher as the market rotated back into DeFi names, and according to industry sources there’s fresh chatter about renewed activity on the protocol. Price already reacted intraday, but this kind of straight line move rarely goes uncorrected.

On the 4H chart, CAKE just tagged local highs around 1.50 right after blasting out of the 1.42 resistance zone, with RSI parked in overbought territory. I’m leaning toward a healthy dip rather than immediate continuation – the nearest liquidity pockets sit around 1.40 and then deeper near 1.34 where the last impulsive leg started. If buyers really want higher, they’ll likely reload there instead of chasing the wick.

My base case: controlled pullback into 1.40, maybe a final flush toward 1.34, then a bounce aiming back at 1.50 and beyond ✅. If 1.34 fails on volume, I’d expect a slide toward the lower green demand area and the trend short term flips from “dip to buy” to “rally to sell.” I’m waiting for price to come to my levels – I might be wrong, but FOMO entries up here usually end with bagholders, not heroes.