$CAKE /USDT BEARISH PRESSURE EMERGING, WATCH KEY SUPPORT LEVELS
CAKE is currently trading around $1.821, showing slight bearish pressure after failing to sustain above recent highs. The market is testing key support zones, and a breakdown could lead to further downside toward lower support levels.
🔑 IMPORTANT LEVELS
Current Price:
$1.821
Support Levels:
$1.766 – $1.804 (immediate support zone)
$1.852 – $1.821 (near-term consolidation support)
$1.764 – $1.750 (major demand zone)
Resistance Levels:
$1.857 – $1.964 (near-term resistance)
$2.076 – $2.188 (strong supply zone)
$2.274 – $2.300 (extended resistance)
📉 TRADE SETUP (SHORT BIAS)
Entry (Short):
Around $1.825 – $1.835
Targets (TP):
TP1: $1.804
TP2: $1.766
TP3: $1.750
Stop-Loss (SL):
Above $1.857
📌 Bearish bias remains valid as long as CAKE stays below $1.857. A breakdown below $1.804 could accelerate the downside toward the next support levels.
💬 FINAL NOTE
Markets can test patience, but disciplined trading and risk management are your allies. Respect support and resistance, follow your plan, and treat each trade as a learning opportunity. Keep progressing steadily and confidently. 🚀