CAKEUSDT
A downward trend in price for the last month of the token, with prices decreasing to their current level down from near $2.50 in late November, is reflective of lower overall market conditions as well as reduced use of the PancakeSwap DEX trading platform.
Headwinds within DEX Ecosystem - PancakeSwap competing against Uniswap V4 and other developing DEX platforms; reduced trading activity due to user migration.
Potential Technical Rebound: Both the daily and intraday RSI are in extreme oversold ranges and could be indicative of a potential technical rebound, but the rebound will need to have increasing volume to be confirmed.
Immediate Support / Resistance:
- Immediate support for the token is currently at $1.990.
- The immediate resistance for the token is at $2.159.
Trading Strategy & Levels 🎯
Accumulation Range: $1.95-$2.00 (conservative)
- Entry: Buy into the accumulation range at $1.98-$2.00
- Target 1 (short-term): $2.15-$2.20 (resistance zone).
- Target 2 (medium-term): $2.35-$2.45 (previous high in November).
- Stop Loss: $1.92 (if support is broken through).
Risk Management:
- Position Size: 2-3% of the maximum allowable position size for the portfolio due to the extreme lack of volume.
- Be extremely careful when managing positions as the lack of volume causes large amounts of volatility and slippage.
- Wait for volume confirmation prior to entering larger positions.
$CAKE DYOR #TrumpTariffs #WriteToEarnUpgrade
