#CAKE 1. Price Trends and Short-Term Momentum
- Current price: 2.160 USDT, with a 24-hour drop of -12.23%. In the short term (today -7.69%, 7 days -19.73%), it shows a clear downward trend.
- Moving Average System (EMA):
- EMA(7)=2.362 > EMA(25)=2.290 > EMA(99)=2.305. The short-term moving average (7 days) quickly crossed below the medium- and long-term moving averages, forming a "short arrangement", indicating that short-term selling pressure dominates the market.
- The current price (2.160) is below all EMAs, indicating that the price is in a weak overall area. We need to pay attention to whether it can break through EMA (7) (2.362) to ease the downward pressure.
2. Volume and market sentiment
- 24-hour trading volume: 38,094,300 CAKE, transaction amount ≈ 15.66 USDT (maybe data is abnormal and needs to be verified).
- Current volume (Vol): 2,537,706.95, which is significantly lower than the 10-day average (31,858,051.11), indicating a lack of panic selling during the decline, but also insufficient buying power.
- Decline in shrinking volume: This may reflect the strong wait-and-see sentiment in the market, and we need to be alert to the risk of subsequent large-volume breakouts.
3. MACD indicator diverges from momentum
- MACD data: DIF=0.083, DEA=0.108, MACD-Histogram=0.108.
- Both DIF and DEA are positive but converging downward, forming a "death cross" signal, suggesting that short-term momentum is weakening.
- Although the MACD-Histogram is positive, it is close to the zero axis. If it shrinks further or turns negative, the decline may accelerate.
4. Key support and resistance
- Support Level:
- 24-hour low of 1.844: A break below this could trigger a technical sell-off.
- Psychological barrier 2.000: The round number may attract short-term bargain hunting funds.
- Resistance:
- EMA(7)=2.362: The first resistance for a short-term rebound.
- EMA(25)=2.290: mid-term bullish and bearish watershed.
5. Multi-period correlation
- Short term (7 days): -19.73% drop, bears dominate.
- Medium term (30 days): +2.32% slight increase, showing a local rebound attempt, but failed to reverse the trend.
- Long term (1 year): -31.43% decline. The overall market is in a bear market cycle and we need to be wary of large-cycle suppression.