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$CAKE /USDT: Is the Support Floor About to Break?
$CAKE is currently exhibiting a slow bearish drift. Trading at 1.234, we are seeing consistent mild selling pressure and a lack of aggressive buying volume. The market structure is shifting downward, making this a critical "watch and wait" zone for traders.
🔎 Market Structure
Current Price: 1.234
Trend: Slow Bearish 🔴
Momentum: Gradual downward exhaustion
📍 Strategic Levels
Resistance Zone: 1.24 – 1.25 (Key hurdle for bulls)
Support Zone: 1.23 – 1.22 (Must hold to avoid a deeper slide)
🎯 The Trading Plan
TP1: 1.23
TP2: 1.21
Stop Loss (SL): Above 1.25
⚠️ Trader’s Insight: The price is grinding lower without much volatility. This "quiet" move often leads to a sudden liquidity grab. Monitor the 1.22 level closely—if it snaps, the move to 1.21 could happen fast. Play it safe and wait for the confirmation candle.
By: Nabiha Noor
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