$CAKE — 1H Chart Read 📊
CAKE is finally showing some life after a long 1H downtrend. The move from $2.159 into $2.234 is constructive, and the price is now testing the Supertrend at $2.240.
This is the key moment: a reclaim here could turn the short-term structure around. The recent daily data also shows CAKE holding around the $2.16–$2.20 area after the September 15 selloff.
Key levels
Immediate resistance: $2.240
Breakout zone: $2.255–$2.260
Next resistance: $2.305
Support: $2.200
Major support: $2.159
Long setup
Entry: $2.225–$2.245 after reclaim/hold
SL: $2.195
TP1: $2.260
TP2: $2.305
TP3: $2.355–$2.400
I like the reclaim + retest more than buying the current candle. If CAKE closes above $2.240 and successfully retests it as support, the setup gets much cleaner.
The order book is also slightly buyer-heavy at 52.18% bids vs 47.82% asks, so buyers have a small edge right now.
If $2.24 rejects 👀
Then I’d wait for $2.20.
A hold there keeps the bounce alive. Lose $2.159, and the current recovery structure gets weak again.
Bias: Short-term bullish above $2.24 after confirmation.
The nice part of this chart is that the levels are very clear: $2.24 is the reclaim, $2.20 is the first defense, and $2.159 is the line bulls really don't want to lose.
#CAKE
CAKE is finally showing some life after a long 1H downtrend. The move from $2.159 into $2.234 is constructive, and the price is now testing the Supertrend at $2.240.
This is the key moment: a reclaim here could turn the short-term structure around. The recent daily data also shows CAKE holding around the $2.16–$2.20 area after the September 15 selloff.
Key levels
Immediate resistance: $2.240
Breakout zone: $2.255–$2.260
Next resistance: $2.305
Support: $2.200
Major support: $2.159
Long setup
Entry: $2.225–$2.245 after reclaim/hold
SL: $2.195
TP1: $2.260
TP2: $2.305
TP3: $2.355–$2.400
I like the reclaim + retest more than buying the current candle. If CAKE closes above $2.240 and successfully retests it as support, the setup gets much cleaner.
The order book is also slightly buyer-heavy at 52.18% bids vs 47.82% asks, so buyers have a small edge right now.
If $2.24 rejects 👀
Then I’d wait for $2.20.
A hold there keeps the bounce alive. Lose $2.159, and the current recovery structure gets weak again.
Bias: Short-term bullish above $2.24 after confirmation.
The nice part of this chart is that the levels are very clear: $2.24 is the reclaim, $2.20 is the first defense, and $2.159 is the line bulls really don't want to lose.
#CAKE
