technical analysis and trade signal summary for $CAKE

/USDT:

Technical Analysis (TA) Summary:

Current Price: $2.615 (+5.96%)

Trend: Bullish momentum with price above key support level.

Support Levels: $2.449 (24h low), $2.595 (Depth support)

Resistance Levels: $2.719 (24h high), $2.659 (Depth resistance)

Moving Averages:

MA(5): $106,766.62 (slightly bullish)

MA(10): $106,682.21 (slightly bullish)

Trade Signal:

Entry Point: Consider entering around $2.60 - $2.61, as the price shows upward momentum.

Target Levels:

1. Target 1: $2.70 (short-term resistance)

2. Target 2: $2.75 (next resistance area)

3. Target 3: $2.85 (extended upside potential)

Stop Loss: $2.45 (below 24h low for risk management)

Trade Momentum:

Momentum: Positive momentum due to the +5.96% increase in the last 24 hours.

Volume: Strong trading volume with 21.65 million USDT in 24h.

Risk: Moderate risk with volatility between $2.45 - $2.70.

This setup shows an upward trend but requires monitoring for potential resistance at higher levels.

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