$CAKE Here’s a detailed analysis for PancakeSwap Token based on the provided liquidation data and its current market situation. Remember, trading cryptocurrencies involves risks, and you should do your own research before making financial decisions.

Recent Market Activity.

Long Liquidation: $9.9832K at $2.35564

This indicates a strong sell-off in the market, causing long positions to liquidate. The price might face further downside pressure but could also create opportunities for a bounce if buyers step in.

Analysis & Strategy.

Buy Zone:

Range: $2.20 – $2.35

This is an ideal accumulation zone where buying interest might increase. If the price consolidates here, it could signal a potential reversal.

Targets:

Short-Term Target 1: $2.50

If the price recovers, the first resistance level is at $2.50.

Short-Term Target 2: $2.65

Strong momentum could push the price to this level.

Mid-Term Target 3: $2.80 – $3.00

If the market sentiment improves, $CAKE could test this zone.

Stop-Loss:

Level: $2.10

If the price falls below $2.10, it might signal further downside, and exiting the trade could prevent larger losses.

Additional Notes.

Market Sentiment: Keep an eye on Bitcoin and the overall crypto market trend. A bearish market could impact negatively.

Volume and Momentum: Monitor trading volume. An increase in volume during upward moves may confirm bullish momentum.

Risk Management: Allocate only a small portion of your capital for high-risk trades and always use a stop-loss to protect your investment.

Final Thoughts.

$CAKE is in a critical zone, and price action near $2.20–$2.35 will determine its next move. Follow technical indicators like RSI and moving averages to validate your trade. If the price holds this support zone, it could provide a good buying opportunity for short to mid-term targets.

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