🚨 Technical analysis for currency $CAKE – Daily frame
▪️ The price is currently trading in a clear downward trend with the formation of lower highs and lows.
▪️ The price failed to break through the previous supply areas, which increased the selling pressure.
▪️ The RSI indicator is close to oversold areas, but there is still no confirmed reversal signal.
▪️ The current support area shows attempts at temporary consolidation.
✅ Positive scenario:
– Maintaining above the current support area
– First targets for the rebound: 2.20 – 2.45 – 2.70
❌ Negative scenario:
– Breaking the support with a daily close
– Targeting areas: 1.60 – 1.40
📌 Note: It is best to wait for clear confirmation before any entry decision.
⚠️ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice.
