🚨 Technical analysis of the $CAKE coin – Daily timeframe

▪️ The price is currently trading in a clear downtrend with lower highs and lower lows.

▪️ The price failed to break through the previous supply areas, which increased selling pressure.

▪️ The RSI indicator is close to the oversold areas, but there is still no confirmed reversal signal.

▪️ The current support area shows attempts of temporary consolidation.

✅ Positive scenario:

– Staying above the current support area

– First rebound targets: 2.20 – 2.45 – 2.70

❌ Negative scenario:

– Breaking support with a daily close

– Targeting areas: 1.60 – 1.40

📌 Note: It is better to wait for a clear confirmation before making any entry decision.

⚠️ Disclaimer: This analysis is for educational purposes only and does not constitute financial advice.