$CAKE fell below the 2.2 level, with the current price at 2.242.
Round-number levels have no magic in themselves, but limit orders, stop-losses, and psychological expectations tend to cluster around them, so the tug-of-war between bulls and bears is usually intense.
The price has now been pulled back above 2.2, so a false breakdown is possible.
#CAKE #ETH
This article is for informational purposes only and is not investment advice.
Round-number levels have no magic in themselves, but limit orders, stop-losses, and psychological expectations tend to cluster around them, so the tug-of-war between bulls and bears is usually intense.
The price has now been pulled back above 2.2, so a false breakdown is possible.
#CAKE #ETH
This article is for informational purposes only and is not investment advice.