$CAKE Sees Major Short Liquidation of $3.367K at $2.907.

PancakeSwap’s native token, $CAKE , just witnessed an exciting market move with a short liquidation worth $3.367K at the price of $2.87774. This event signals a potential squeeze, hinting at increased buying pressure and potential volatility ahead!

What’s Happening.

A short liquidation occurs when traders betting against the price (short sellers) are forced to close their positions due to rising prices. This often triggers a chain reaction of buy orders, driving prices higher.

Key Levels to Watch:

1. Immediate Resistance: $2.90 - $2.95

A breakout above this zone could bring bulls back into control.

2. Support Zone: $2.85 - $2.87

If prices dip, buyers may defend this region.

What to Expect Next.

If bullish momentum continues:

Next Target: $3.00

Extended Target: $3.10

However, if bearish sentiment returns:

Support to Hold: $2.85

Critical Breakdown Level: Below $2.80

Stay sharp, as $CAKE volatility might provide lucrative trading opportunities.

Let me know if you want technical analysis for entries, targets, or stop-losses in detail.

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