📉 $CAKE /USDT - Downtrend Continuation? 📉
Current Price: $2.800 (-3.35%)
24H High: $2.899
24H Low: $2.786
24H Volume: 4.20M CAKE
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🚨 Market Insights
$CAKE is currently trending downward after facing rejection at key resistance levels. The chart signals potential further declines, but short-term rebounds may provide scalping opportunities.
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🔑 Critical Levels to Watch
Resistance Zones:
$2.85–$2.90: Immediate resistance for any recovery attempt.
$2.92–$2.95: Stronger resistance where sellers may re-enter.
Support Zones:
$2.75–$2.78: Key support level that could halt further declines.
$2.69–$2.72: Deeper support if bearish momentum persists.
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Trade Setup 💡
🎯 Entry (Short): $2.85–$2.88
🔒 Stop Loss: $2.95
🏆 Take Profit Levels:
TP1: $2.78
TP2: $2.72
TP3: $2.69
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📊 Technical Indicators
MACD: Bearish crossover with declining momentum.
Trend: Lower highs and lower lows suggest continuation of the downtrend.
Volume: Decreasing, indicating weaker buyer interest at current levels.
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⚠️ Pro Tip: Use a disciplined risk-reward strategy. Watch for volume spikes at key support levels for potential reversals.
💬 Are you shorting $CAKE or waiting for a rebound? Share your insights below!
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