#Cake /usdt 1-day chart update :
The price of CAKE/USDT is currently trading at $1.58. A desjount channel is forming, which is a bullish pattern that could see the price reach $2.600.
The channel is formed by two parallel lines, and the price is currently trading between the lines. If the price breaks above the upper line, it could reach $2.600.
The 24-hour trading volume of CAKE/USDT is 26.4 million USDT, and the market capitalization is $1.2 billion. The coin is currently ranked #61 by market capitalization.
The technical indicators are bullish. The MACD is in a bullish crossover, and the RSI is above 50. The moving averages are also converging, which could signal a trend reversal.
Overall, the outlook for CAKE/USDT is bullish. However, traders should be aware of the risks before entering a long position.
