CAKE Market Analysis

Currently, the candlestick chart has shown multiple large bearish candles, indicating that the market will continue to decline; the main support level is around 2.27, with a high probability of stopping the decline at this level.

From the MACD perspective, the fast and slow lines are about to cross below the zero axis. We need to wait for two crossings of the fast and slow lines below the zero axis before experiencing a surge in the market.

We need to wait for the market to reach the support level before entering. The best entry price would be around 2.2.