$CAKE 🚀🚀🚀🚀🚀

$CAKE CAKE/USDT, here's the analysis for the next 24 hours along with suggested entry and stop-loss (SL):
1. Current Price: 3.0107 USDT
2. Indicators Overview:
Moving Averages (MA):
MA7 indicates a potential consolidation phase or minor correction.
MA25 and MA99 show support levels with the price still above them, indicating an overall uptrend.
MACD:
MACD line is slightly below the Signal line, indicating a weak bearish crossover, which may signal temporary downward pressure.
RSI:
RSI is at 49, showing neutral momentum and no clear dominance of buyers or sellers.
Stochastic RSI:
Stochastic RSI is at 50, indicating a balanced position with potential for either a breakout or further consolidation.
Volume:
Declining volume suggests lower market participation, often associated with consolidation.
3. Key Levels:
Support: 2.9400 - 2.9600
Resistance: 3.0800 - 3.1200
4. Recommended Entry and SL:
Buy Entry: 2.9600 - 2.9800 (if the price revisits support levels and shows a bounce).
Take Profit (TP): 3.0800 - 3.1200 (near resistance levels).
Stop-Loss (SL): 2.9000 (to protect against a further breakdown).
Strategy
If the price breaks above 3.0800 with increased volume, consider a follow-up buy targeting 3.1500 - 3.2000.
Monitor MACD for a bullish crossover to confirm an upward trend continuation.
Be cautious of bearish divergence on RSI or further volume decline, which may indicate a lack of bullish strength.
The market appears to be consolidating, so ensure to trade with proper risk management.