$ICP

The current trading price of CAKE is $2.593, the highest price in the last 24 hours is $2.633, and the lowest price is $2.468. The current price has retreated from a recent high of $4.515, showing a downward trend before beginning to stabilize gradually. The short-term moving average (7-day moving average) shows signs of a stop in decline, but overall it is still in a weak rebound phase.

Key Level Analysis

• Support Levels: $2.480, $2.300

• Resistance Levels: $2.650, $2.900

Short-term Trading Strategy

1. Long Position Strategy:

• If the price pulls back to $2.480 and stabilizes, a light position long can be established, targeting price levels of $2.650 and $2.900, with a stop loss set at $2.450.

2. Short Position Strategy:

• If the price rebounds and is resisted near $2.650, a short position can be attempted, targeting price levels of $2.480 and $2.300, with a stop loss set at $2.680.

It is recommended that investors manage their positions, closely monitor trading volume and market trend changes, and wait for the price to break through significant ranges before increasing their positions.

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