In the dynamic world of cryptocurrencies, PancakeSwap's token, CAKE, is displaying promising signs of a trend reversal. Trapped within a descending channel, CAKE is gearing up for a potential shift in momentum. Let's delve into the chart dynamics and explore the key levels that might mark the beginning of a bullish journey.
Chart Analysis: CAKE's Descent Channel...
Based on the provided market data, the CAKE/USDT pair is currently trading at $2.444. The Relative Strength Index (RSI) over 4 hours is 46.19, which is relatively neutral. This suggests that the asset is neither overbought nor oversold. The Moving Average Convergence Divergence (MACD) for the same period is at -0.011, which indicates a bearish signal, as the MACD...
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📈Optimal entry for a broken price is $2.371 on the trendline, and similarly, entry with the activation of a position on the broken sresistance is $2.5154.
📊 (Buy) : 2.371
🔴 Stop Loss : 2.067
🎯 Take Profit : 3.120
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🎂 **CAKE/USDT Scalping Alert!** 📉🍰
Wait for the breakout at 2.507 for a potential short, ideal for scalping purposes. Employ low leverage and limit exposure to manage risk effectively.
⛔ **Stop Loss:** 2.877
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⚠️ Disclaimer: The following insights reflect my personal perspective on the market, relying on publicly available information and historical data. While some opinions stem from my actual trades, others do not. I am not a financial advisor, and I bear no responsibility for your trading choices.
✅ Feel free to reach me out with any questions or recommendations. I...
The pair has been moving in a descending triangle since April 2022
The price broke the upper border of the triangle
Supported by the momentum of the Moving Average 100 that is about to be broken
Oversold on MACD
It is expected to break the Moving Average 100, heading toward upward targets
The price now is 20.2
The first goal is 90.4
BINANCE:CAKEUSDT can pump more than you think
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CAKE is in a descending wedge pattern and currently flirting with breaking out. After last week's bull bar closing near its high, we had a slight pullback to the 30EMA and bounced back to the top of the wedge. We have yet to breakout let alone confirm a breakout. Until then, this is what we have for data:
1. The Descending Wedge Pattern is...
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Everything on the chart.
Waiting for last upward movement in zone 2.8 - 3$, then will be deep correction.
after first target reached move ur stop to breakeven
Stop: ~1 (depending of ur risk). ALWAYS follow ur RM .