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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