The CAKE/USDT pair is currently consolidating inside a symmetrical triangle, showing signs of reduced volatility and building pressure. Multiple price reactions at both the upper and lower trendlines (highlighted with orange circles) confirm the triangle’s validity.
A breakout scenario appears likely, with a potential upward move of around 76%, targeting the $4.38 region. A key resistance level sits at $3.439, which may act as a pullback zone before continuation.
The support zone is well-defined near $1.487, and price has respected this level consistently.
If bulls manage to push through the triangle’s resistance, this could signal the beginning of a significant bullish leg in the coming weeks.
⚠️ As always, wait for confirmation before entering a trade and manage your risk accordingly.
#CAKE #Crypto #Breakout #TechnicalAnalysis #Altcoins #TradingView
A breakout scenario appears likely, with a potential upward move of around 76%, targeting the $4.38 region. A key resistance level sits at $3.439, which may act as a pullback zone before continuation.
The support zone is well-defined near $1.487, and price has respected this level consistently.
If bulls manage to push through the triangle’s resistance, this could signal the beginning of a significant bullish leg in the coming weeks.
⚠️ As always, wait for confirmation before entering a trade and manage your risk accordingly.
#CAKE #Crypto #Breakout #TechnicalAnalysis #Altcoins #TradingView
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.