Analysis of this chart (CAKE/USDT on an 8-hour timeframe) indicates the following relevant points that can be used for a post:
Price Indicators:
The price appears to be approaching a significant resistance region around $2.80 to $2.85, aligned with the Ichimoku (Kumo) cloud and the moving averages.
There is a visible volume buildup on the Volume Profile indicator between $2.60 and $2.80, suggesting a zone of interest for both buyers and sellers.
Oscillators:
Stochastic RSI is in the overbought zone, indicating that the price may face selling pressure in the short term.
Traditional RSI is above 60, showing bullish momentum, but still far from extreme overbought levels (>70).
MACD:
The MACD line is crossing above the signal line with a positive histogram increase, which reinforces the short-term uptrend.
General Context:
A clear break of $2.80 could open up room for the price to seek the next resistance around $3.00 or even $3.50, as highlighted by the volume profile.
On the other hand, if the price rejects this region, immediate support can be found near $2.60.
📈 CAKE/USDT Technical Analysis (8h): The price is testing an important resistance at $2.80, with support near $2.60. The MACD and RSI indicate bullish momentum, but watch out for the overbought zone on the Stochastic RSI. A breakout could lead the asset to seek $3.00. 🚀 #criptonews #TradingSignals