$CAKE CAKE/USDT, here is the analysis for the next 12 hours:
1. Main Trend:
The current price is $3.1042, showing an upward trend (+6.16%).
MA(7) is above MA(25), indicating bullish momentum.
The 24-hour high at $3.2817 suggests a potential resistance level.
2. Indicators:
MACD: The DIF line is above the DEA with a positive histogram, confirming bullish sentiment.
RSI(6): At 75.05, indicating overbought conditions. Be cautious of a possible correction.
Stochastic RSI: At 74.40 with potential for reversal.
Volume: Increasing volume supports the upward trend.
3. Key Levels:
Nearest Support: $3.00 (aligned with MA(25) and psychological level).
Main Resistance: $3.28 (24-hour high).
4. Trading Plan:
Buy Entry: Around $3.05-$3.10 (near support).
Stop Loss (SL): Below $3.00 (to protect capital if the trend reverses).
Take Profit (TP):
First target: $3.20 (minor resistance).
Second target: $3.28-$3.30 (main resistance).
5. Additional Strategy:
If the price breaks above $3.28 with significant volume, consider adding positions with a new target at $3.40.
Watch for a correction if the price fails to hold the $3.00 support area.
Use risk management with a maximum risk of 2-3% of total capital per position.