In the 4-hour chart of CAKE/USDT, we see a clear consolidation pattern taking shape. The market has formed multiple FVG (Fair Value Gap) zones, suggesting significant price interest areas. The recent price movement has struggled to maintain upward momentum, hitting a resistance level at approximately $2.85.
The price is currently staying above a series of unfilled FVG zones, with the closest being around $1.77. These gaps often act as magnets for price and could suggest downward movement if the market does not sustain current levels. Moreover, the presence of multiple FVG zones below the current price may increase the likelihood of a chain effect, intensifying the potential drop if initiated.
The price is currently staying above a series of unfilled FVG zones, with the closest being around $1.77. These gaps often act as magnets for price and could suggest downward movement if the market does not sustain current levels. Moreover, the presence of multiple FVG zones below the current price may increase the likelihood of a chain effect, intensifying the potential drop if initiated.
Note
100 EMA has been broken and yet to be re-tested as well! - Looking for that upper resistance potentially (overall still seeing price to move to lower zones)
Note
After the breakout from 100 EMA, we are attempting a potential breakdown of 100 EMA and the middle line of Bollinger Bands. Looking closely here and also to that smaller resistance zone which we still haven't tested yet!
🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
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.
🚨 Authentic Traders
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
⚡️ Short-Term + Mid-Term Trades
Keep an eye on us and you will not regret it. 😉
Telegram: t.me/+fiEDSn7M9pJkODA0
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.