$CAKE — Recovery bounce waiting to break resistance
CAKE Futures is at 2.4526 USDT, down 2.150% over 24 hours. The 1H candle just closed higher, moving from 2.4340 to 2.4518; the new candle is holding near the high but has not closed yet.
🟢 The upside is favored if the 1H candle closes above 2.4528. If so, the levels to watch are 2.4560 and then 2.4790, both based on completed OHLCV data. This view is invalidated if the 1H candle closes below 2.4331. Price remains in a recovery bounce after the preceding decline, so wait for a candle-close confirmation rather than chasing the early-session fluctuations.
Personal observation, not a recommendation. Risk 1%; always use a stop.
#CAKE #DeFi #Futures
CAKE Futures is at 2.4526 USDT, down 2.150% over 24 hours. The 1H candle just closed higher, moving from 2.4340 to 2.4518; the new candle is holding near the high but has not closed yet.
🟢 The upside is favored if the 1H candle closes above 2.4528. If so, the levels to watch are 2.4560 and then 2.4790, both based on completed OHLCV data. This view is invalidated if the 1H candle closes below 2.4331. Price remains in a recovery bounce after the preceding decline, so wait for a candle-close confirmation rather than chasing the early-session fluctuations.
Personal observation, not a recommendation. Risk 1%; always use a stop.
#CAKE #DeFi #Futures
